ICICI Bank Partners Social Money to Socialize its Savings Products in India

Just a couple of few weeks following the opening of their Indian office, Smartypig announced today a partnership with ICICI Bank which will utilize their new Saas service, ‘GoalSaver’, to offer its banking customer base an innovative approach to savings with goal-oriented products leveraging the virality of social media.

Last week Jon Gaskell, one of the two Co-Founders of SmartyPig, informed me of this new major milestone for the company in Asia Pacific (APAC).  So a few years after closing a first deal in APAC with ANZ in Australia, the newly renamed ‘Social Money‘ has already put in place an official partnership with one of the most innovative banks in the region, India’s ICICI Bank.

In the last year or so, ICICI has launched a number of engaging initiatives on social media channels, their most well-known being their banking app on facebook (check out this exclusive review from a real ICICI Banking customer).

Here, ICICI will utilize Social Money’s recently launched SaaS solution ‘GoalSaver’.  I can’t wait to see how the live service will look like, and especially how much energy and resources ICICI Bank will dedicate to the promotion of this new and innovative service.  You can have one of the most exciting social platforms, without a proper communication and recruitment strategy you won’t go far (ANZ and its Money Manager is a ‘good’ example of this disconnect…).

What do you think?

Written by Christophe Langlois

Based in London for almost a decade, Christophe is an entertaining fintech marketing keynote speaker and a trusted advisor to the global financial services industry on the topics of digital marketing, innovation and B2B social media.

Christophe has contributed to over 140 events in 18 countries.

Currently, Christophe is advising a number of fintech startups on marketing and growth hacking and he is the Chief Marketing Officer of The Fintech Power 50, an exclusive annual programme helping fintech scale-ups to accelerate their growth globally.

Christophe's views on are his own.

Grupo BBVA Spreads and Promotes Crowdfunding [Customer Voice]

Tinkoff Credit Systems Bank Taps Crowdsourcing with its Internet Olympics