Facebook Banking application from ICICI Bank

The ICICI Bank application on Face Book that facilitates money transfers to “Friends” is reported to have the following functionality. The application is called “Pockets”

-Split & Share that allows customers to split and track expenses and share them with friends on Facebook. It also allows one to send reminder on pending payments. This is a very interesting feature as it’s usually cumbersome to keep a track of expenses when you’re out with friends.

– The app also allows one to make a payment to friend, recharge prepaid mobile, book movie tickets. Another interesting feature is one does not need to know bank account details of their friends to make a transfer, users can create a coupon which can be redeemed by their friends.

– One can also carry out non-financial transactions such as accessing a mini statement of savings bank account, getting demat holding statements, open fixed or recurring deposit, order a cheque book, stop a cheque payment, upgrade debit card, among others.

Details available at: Medianama : ICICI Bank : ICICI Bank2

A security review of the product is due.

Naavi

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About Vijayashankar Na

Naavi is a veteran Cyber Law specialist in India and is presently working from Bangalore as an Information Assurance Consultant. Pioneered concepts such as ITA 2008 compliance, Naavi is also the founder of Cyber Law College, a virtual Cyber Law Education institution. He now has been focusing on the projects such as Secure Digital India and Cyber Insurance
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