REDIRECTING TO VISIBLEBANKING.COM
Earlier this month, I announce the imminent launch of a new series on the Visible Banking blog, the 'Voice of the Customer' or 'Customer Voices'. Basically, on regular basis we will ask regular bank and insurance customers to share their thoughts on the topics of social media and digital engagement and on specific initiatives on the likes of facebook or twitter.
I am delighted to publish the second article of the series and the very first article in English (99% of our articles are in English, but the first customer-generated article was in French).
This article is on the banking application launched by India's ICICI a couple of months ago. The bank has just reached the 300,000 likes barrier and I believe this specific application is currently used by 20,000 users every month. If you want to check how ICICI compares in the worldwide financial services industry on facebook, we invite you to check the latest updates from our Visible Banking Facebook Watch series (tracking over 1,300 pages and apps in 78 countries).
So many consultants and online resources have hurried to cover this application days after launch, but did you have a chance to try it and experience its interface? Probably not. So, I bet you will find this article rather insightful.
Just like all first time users with great enthusiasm and lots of apprehension and concern, I decided to check out this new application. The page had more that 218,002 ‘LIKES’ which was quite convincing for a first time user like me. Getting started seemed quite simple –just a click on ‘Your Bank Account and then just click “Launch APP” – in the page seen below:
This application is hosted on the very secure ICICI servers and is available to the users through SSL connection. It makes it easy for customers to check their accounts, get mini statements, make application for debit cards and also request checkbooks.
On clicking ‘Launch APP’ I was guided to another page where I was required to fill in details like Debit Card No and also PIN number. …quite simple and hassle less.
Checking out the features of the application, everything seemed quite straight forward and user-friendly.
What my facebook ICICI bank application will do for me:
* Checking account details in just a click– my complete account detail was in front of me…checking balance will take a few seconds.
* Mini Statement for the last 10 transactions – I don’t have to wait to visit ATM or my bank to know about the last few transactions I did.
* I will also get my e-statement right into my Inbox.
* Upgrading my debit card is also just a matter of a few clicks.
* Check book request, stopping the payment for check and checking the status of any check can also be done through this application.
My experience was good till now – Happy !Well, more than 1 reason to make me smile…but my concern is always security. Will it be secure – will anyone get access to my bank details, PIN and passwords? I knew, security has always been my main concern and I can’t be confident till I am 100% sure about the security. I had many questions in mind and from whatever my friends tell me about lack of Facebook privacy, I had my reservations.
So, I decided to move ahead further and read what security options are available for users like me. This is the SECURITY page which explains more.
ICICI bank seemed to be well aware of customers concerns and here they explained every bit to show how customers can have a secure experience.
I clicked on Secured Hosting & SSL encrypted connection- it says:
The application is hosted on a secured server. It is available through an encrypted connection which is certified and secure. This means that ICICI bank does not transfer any data to Facebook. I realized this means, that though in a social networking site like Facebook, I actually do not disclose or leave any information with the site. Sounds good!
The application also offers 2 Factor Authentication:
This means my account is quite protected and hacking it wouldn’t at all be simple. Facebook ID and password along with ‘Your Bank Account’ App password assure double protection of the account. Moreover, if I choose my passwords smartly I have nothing to scratch my head for, in terms of account security.
Quite convincing till now…but I wandered…since its Facebook, will all be activities be published for my friends to see? Most applications in Facebook allow activities to be ‘Published’ – what if my bank statement is published by mistake and the fact that I checked my mini statement or that I just made a payment to someone is published on my wall?? Sounds scary!
Activity Privacy addresses just this issue – it clearly states that account details or any banking activity will not be posted and will NOT be visible on my facebook wall or anywhere else.
Login information is also well protected. Facebook will not have or store any of your passwords, PIN numbers and other details…and if you do not share it, no one will get your login details in anyway.
This means security and privacy is completely assured. I stopped for a moment and went through the details all over again.
I decided to check out myself…so moved ahead and filled in all details required, which included by debit card number and PIN and believe me…this time I didn’t have butterflies in my stomach. Everything seemed transparent, simple and of course secure. Just a few clicks and I was able to see my account balance and got my Mini statement too. Online banking isn’t new to me but accessing from a social networking site is totally new and something which I never thought about earlier. I went on slowly with the data inputs, as my friends often say….that 2-3 wrong information inputs can block my access for sometime. I didn’t want to take chances and I am not sure too, if this is going to happen with this application.
Pleased to have finally understood and most importantly convinced about handling my account from Facebook, I decided to bring my friends into the loop too. So, a few sessions and chats were enough to make them curious. Everyone is fond of Facebook and if they can access their bank even when in this website, nothing can be better. I completely endorse this at the moment and enjoying this application completely...it’s casual and friendly.
In case you are still wondering whether to use or not, I would like you to check out this application and see for yourself, how people are using it and gaining access. In case of any concerns or difficulties you can check out the FAQ section, which I too checked at some point or you can even get in touch with the bank at firstname.lastname@example.org. Rest, I can assure…your experience is going to be smooth and happy. Happy Banking!
More on the Author: Sudipa (India)
Sudipa is an indian woman, aged under 30, moderately active on facebook and twitter, who banks with 2 financial institutions. She is using both online and mobile banking.
We at Visible Banking would be delighted to help you and your team better UNDERSTAND and LEVERAGE social media in a strategic yet pragmatic way.
So please don't hesitate to call me, send me an email or DM me (@Visible_Banking ) to book a meeting and talk about twitter, facebook, crowdsourcing, customer reviews, social media & social commerce in banking, financial services and insurance.
Other Articles of Interest on Visible-Banking.com
* All my posts related to Twitter
* All my posts related to Facebook
* Visible Banking Directory: Social Media in Financial Services
* Visible Banking Social Media Watch Series (Twitter, Facebook, Blogs)