New App to transfer funds via Facebook

by news
March 25, 2015

Mumbai:Indias largest private sector lender ICICI Bank has now made life easier for Facebook addicts by launching a new application that would enable its customers to carry out financial as well as non financial transactions on the social network, without having to leave it.

The private sector bank on Tuesday announced the launch of a Facebook application named “Pockets by ICICI Bank” that allows customers to transfer funds to their Facebook friends without knowing their bank account details like account number, bank branch or branch IFSC code by just mentioning their friends mobile numbers or email-id. It also lets customers recharge their prepaid mobile and book movie tickets as well. 

Last year, the bank had introduced “Your Bank” Facebook application that enables customers to view their savings account details and statements while on Facebook, as well as to order a cheque book and upgrade debit cards.

Facebook has 82 million users across India and 40 per cent of them are below the age of 30 years. “We expect the new technology to be adopted faster by customers who are below 30 years of age,” said Chanda Kochhar, managing director and CEO, ICICI Bank.

In order to ensure that the new app is not misused by hackers, a unique dynamically generated one-time password is sent to the customers registered mobile number for every transactions to verify and confirm it.