NS Kannan, ICICI Bank’s CFO on their innovative social media banking strategy, said that social media platforms presence and banking services are important.
ICICI Bank (@ICICIBank_Care) is always the first to explore new technology strategies, maintaining its competitive edge. This year, the bank announced the creation of a Facebook application that will allow customers to view their bank statements on Facebook.
Facebook has over 65 million active users in India, making it a great way to get customers engaged. Facebook gives ICICI Bank another channel to interact in real conversation with prospective customers and fans. The end objective is to attract younger customers to the brand.
ICICI Bank has also established presence on Twitter by creating a way to listen to its customers.
Kannan states that the bank launched a unique application that allows registered users to check account details on social media. They have built a 950,000 Facebook community within 10 months.
The Bank also has a YouTube channel for advertisements, interviews, product videos, and a chance to share all these with one another. The channel acquired over 100,000 views in less than a year and has shared information to other social media platforms.
By using social media as listening posts, the bank builds relationships with its customers. According to Kannan, the bank has improved customer satisfaction and increased positive perceptions social media.
- Facebook has over 65 million active users in India
- In 10 months, ICIC bank has built a 950,000 strong Facebook community
- The bank’s channel has acquired over 100,000 views in less than a year
NS Kannan, Executive Director and Chief Financial Officer of ICICI Bank: “We launched the one-of-its-kind application that allows a registered user to check his account details while on the social media platform and also avail a host of services.”
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