ICICI goes live with transaction product

Private lender ICICI Bank on Thursday went live with a product that was showcased first at a start-up competition which allows customers to do banking transaction while using other application on mobile phones.

Customers can transfer money, pay bills and recharge from within any application or browser using smartphone keyboard, which will reduce transaction time, the bank said in a statement.

The bank claimed that it is the first lender in Asia to offer such a product under the label of 'iMobile SmartKeys', which has been developed by one of the winners at the ICICI Appathon, its mobile app development challenge organised earlier this year, it said.

"The product has been introduced to customers within three months of the competition. We are delighted to introduce this product, which is a testimony to our continuing co-creation initiatives with innovative technopreneurs," Group executive and chief technology and digital officer B. Madhivanan said.

He further said that the bank will continue to rely on this model of co-creating with quality start-ups and technology companies for introducing innovative services. Users will have to long press the 'globe' to launch the 'iMobile SmartKeys' and do the transaction, the bank said.