The Mumbai headquartered IndusInd Bank has inaugurated its first digital branch in the country at Gurgaon’s Rapid Metro Station, reports ET. It is the same metro station that the bank had acquired earlier in June for the naming and branding rights and named the station to IndusInd Cybercity.
According to the company release, the digital branch will have an interactive video branch online as well as allow customers to connect with remote teller over a real-time video call. Besides regular banking transactions like statement printing, cheque deposits, opening of FD account and encashment, funds transfer along with dispensation of cash can be done through this branch.
Talking on the initiative, Romesh Sobti, MD and Chief shared that the bank will continue to invest in digital branches to create a differential banking experience which will delight their customers.
The bank which has a presence on Facebook and YouTube has updated its Facebook with a cover image (shared at the top) that stresses upon face to face banking without going to the branch. The YouTube page has been dead for the last four months.
The last big digital initiative IndusInd Bank had done was last year when it had launched “My Account, My Number” on Facebook. Based on the superstitious sentiments of Indians, the bank offered its new customer a choice to select their own lucky number as their new bank account.
Drawing from its customer centric philosophy as “Apne chaha, hamne kiya”, the campaign had seen a phenomenal success in the offline world and hence had extended onto online through an interesting Facebook application called ‘What’s your lucky number?” The application decided the lucky number for an individual within a few seconds by just entering the full name and date of birth.
IndusInd Bank isn’t the only one making its branches digital. Earlier this year in July, State Bank of India started providing a complete new digital experience at the branches such as South Extension Part I in New Delhi or Phoenix Market City, Kurla, in Mumbai. The bank launched the digital experience in six branches across India under the name sbiINTOUCH.
SBI states that these digital branches will provide instant issuance of personalised debit cards created through an instant account opening kiosk, instant in-principle loan approval and an interactive dream wall to aid customers in conceptualizing their journey towards realizing their financial dreams.
SBI’s digital branch initiative has been picked up by other banks as expected. The latest initiative by IndusInd bank is one example; we will see more such initiatives going further since digitization is helping banks reduce their costs and improve efficiency. A thought that gathered consensus at the annual Ficci-Iba conference on Digital revolution: Accelerating productivity excellence in Mumbai.