ICICI bank launches 25 electronic branches, e-Locker, Bank-on-the-Move

India’s biggest Private sector Bank, the ICICI Bank Limited, has launched new technology-based initiatives including twenty-five 24×7 electronic branches (can be considered as one-stop shops for all banking transactions) across 18 locations and services such as Tab Banking, Banking on the Move and e-Locker.

How the initiative Help a customer:

1) Customers can transact on their own, at a time of their convenience, with the help of various automated devices and kiosks. The electronic branches will remain open 24 hours a day, 7 days a week.

2) The electronic branch offers the facilities of a cheque deposit machine, an interactive kiosk through which internet banking services can be accessed easily by just swiping a debit card, a cash deposit machine with instant credit facility and 24-hour video conferencing with ICICI Bank’s customer care personnel.

3) e-Locker Facility: a virtual online locker available on the ICICI Bank internet banking platform and can be used to safely store electronically scanned copies of important documents like legal agreements, policy documents, degree certificates and bank statements in various formats. The facility serves as a backup and retrieval tool for important documents and offers a storage space of 1 GB per customer

The ICICI bank will also reach out and facilitate banking in areas where there are no branches and ATMs, with its initiative called Bank-on-the-Move. This will be a point of sale (POS) terminal with an in-built GPRS and Wi-Fi connectivity to carry out various banking transactions in remote locations.

It will allow customers to avail various services like instant deposit and withdrawal of cash along with receipts for the same, print out of account summary, opening a fixed deposit, issuing a demand draft and a host of other services.