Customers of ICICI Bank can now use their Twitter account for bank related 
transactions. The leading private bank in India has recently started this new facility to ease the bank transactions for its customers. Customers can use their Twitter account for real-time fund transfer, prepaid mobile recharges and to check the bank balance.
Private sector lender ICICI Bank has launched a facility which allows account-holders to transfer funds through Twitter. Users can transfer the fund to other Twitter user who is also subscribed to the service. While fund transfer, the sender gets SMS with a unique code, the beneficiary needs enter that code on special webpage where he/she would be redirected to complete the transaction. If beneficiary is of other bank then, he has to enter IFSC code to receive the payment.
For now, the bank uses National Electronic Funds Transfer (NEFT) or RTGS (Real Time Gross Settlement) for the transfer via Twitter, they will soon be integrating IMPS (Immediate Payment Service) mode too. The unique SMS OTP fulfills the regulatory requirement of two-factor authentication. ICICI Bank is providing this Twitter banking service at absolutely free of cost. However, sender has to pay the fees applicable for NEFT or RTGS transactions. The bank is the first in Asia and second in world to provide Twitter based fund transfer service. ICICI has active Twitter base fund transfer service. Bank has over 30,000 active Facebook users who access to this service on daily basis.
ICICI bank has over 2.8 million mobile banking and 15 million internet banking users. Bank has dedicated team of 100 people providing support for digital banking offerings in bank. The bank is also working on mobile digital wallet based on NFC (near field technology). They are planning to launch that service in this year. NFC based bank wallet will work with NFC enabled wearable devices.
