ICICI Plans To Take Your Banking Account To Facebook; Are You Ready For It?
Indian private lender, ICICI Bank is all set to take our financial world to our virtual social world, by launching an app called 'Your Bank' on Facebook. The app will allow users, access their bank account on Facebook.
It can be operated from ICICI Facebook page and users will also receive updates and banking news on their 'Wall'. All clients will also get regular updates and offers through their account(weren't we running away from banking industry spasm?)
The exact nature of services are still not clear, but we will update you when we get to test it.
The basic idea appears to be to leverage the reach of social media platform, specially for the younger customers.
The requirement to link ones' bank account number with their Facebook account will be a crucial test of the whole proposition. The real question is that how many customers will be comfortable doing it, as it can potentially open another area of banking fraud on the Internet.
The bank will have to be very careful while handling this because any security breach will lead to customers losing out crucial information and money while the bank will lose its reputation.
Wouldn't it be more prudent to launch a simplified app that one can access on the go on the mobile?