ICICI Bank launches four new digital banking units

By Leandra Monteiro

ICICI Bank announced the launch of four Digital Banking Units (DBUs) to offer banking services to its customers digitally. The launch is part of the government’s plan to set up 75 DBUs in as many districts to commemorate 75 years of India’s independence.

Shri Narendra Modi, Honourable Prime Minister of India inaugurated the 75 DBUs virtually in the presence of Smt. Nirmala Sitharaman, Honourable Finance Minister and Shri Shaktikanta Das, RBI Governor. ICICI Bank has set up the DBUs at Dehradun in Uttarakhand, Karur in Tamil Nadu, Kohima in Nagaland and Puducherry.

Speaking on the new initiative, Rakesh Jha, Executive Director (Designate), ICICI Bank said, “We are delighted to be part of the initiative of setting up DBUs across the nation, under the aegis of RBI. They operate like digital branches where customers can undertake banking transactions digitally, at a time of their convenience. They can also seek guidance from experts on banking services at these units.

In the last few years, we have seen that the customer’s behaviour at branches has evolved. Customers are now more keen to seek advice and guidance at branches for complex transactions, loans and investments while they prefer doing simple transactions on their own through digital channels like internet and mobile banking. We have designed the DBUs to meet these evolving requirements of our customers.”

A DBU comprises two distinct areas- a Self-service Zone and a Digital Assistance Zone. The Self-service Zone houses an ATM, a Cash Deposit Machine (CDM) and a Multi-Functional Kiosk (MFK) that offers a number of services including printing of passbook, depositing cheque and accessing internet banking. Further, it has a Digi Branch Kiosk that offers all services available on iMobile Pay, the Bank’s mobile banking app. The Zone also provides a digital interactive screen where customers can interact with a chatbot in order to find product offers and mandatory notices. The Self-service Zone is operational 24×7.

At the Digital Assistance Zone, branch officials assist customers to undertake various financial and non-financial transactions. These include opening of saving account, current account, fixed deposit and recurring deposit; availing of home loan, auto loan, personal loan and applying for credit card. These services are offered in a completely digital manner through a tablet device, using Aadhaar based eKYC. In addition, branch officials will help customers download and start using the mobile banking app as well as internet banking. The Digital Assistance Zone remains open from 9:30 am to 3.00 pm on Monday to Friday as well as, on the first, third and fifth Saturdays of the month.

In addition to offering banking services, the DBUs will conduct Digital Literacy Programmes regularly to spread awareness around safe banking, digital banking and cyber security.