Wednesday, January 16, 2008

I Just iMobiled it! - ICICI Mobile Banking

Wife: “Sachinnnnnnnn, did you transfer the money to your parents’ account that I asked you to do? And the bill payment?”
Sachin: “Yes I did”
Wife: “Don’t lie to me, you didn’t even move an inch from your place for past one hour. And stop watching this stupid TV.”
Sachin: “I am not lying I just
Wife: “iMobiled? What’s that? Some new trick of yours?”
Sachin: “Oh common, you don’t know about the new iMobile service from ICICI Bank? ICICI bank has launched its amazing
Mobile Banking Services, iMobile. Through this you can do transactions through your mobile. I can do a Balance Enquiry, I can do Cheque Book Request, View my Credit Card, Demat, Loan Account Transaction details, I can even pay bills, recharge my mobile phone and all this just sitting in my place without moving an inch, while watching India Business hour on CNBC TV18.”

Thanks to ICICI iMobile, I just iMobiled and it has made my life easy!

You might see some similar TV commercial running on air soon promoting ICICI bank’s mobile banking service iMobile. Here is the link to FAQs. With launch of this mobile banking service ICICI has become India’s first bank to launch Mobile Banking. However, this is not the 1st time in world when someone has launched mobile banking. Previously, in 1996 and 2000, Bank of America, Citibank, HSBC and some others have already burnt their fingers. The previous launches of similar services were unsuccessful because of the bad mobile phone handsets and the poor networks available.

However, now the networks are much better as well as the handsets have better capabilities, which makes the outlook more positive. I am a strong supporter of Online and Mobile methods of reaching out to customers. And I strongly support the move of Mobile Banking. I would say 2008 -2010 is the right time to get into the Mobile Marketing and service arena and take the early mover’s advantage. Establish your brand name and brand recall and star building your company’s association with the mobile services. Oh by the way did I say Mobile Marketing will work in India?

With mobile payment options now available, I guess it’s just got a little more easier to promote M-Commerce as well as promoting ads on mobiles as the purchase media vehicle is ready to carry the money. I see by 2010 onwards the company revenues will shoot up with revenues from Mobile purchases coming through higher ad conversions. However, it would be necessary that the brands start attaching themselves with the most modern “Mobile” identity.

Looking for more action in 2008 in the Mobile Front!

1 comment:

Delly News Blog said...

FINO is into designing and implementing innovative technology solutions - systems, services and networks - that will enable a greater range of financial services to reach the un-banked masses at a lower cost. After an established presence in the domestic market Business Correspondent services FINO's vision is to venture out to overseas market where the opportunities to serve the unbanked is enormous.

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