by July 29, 2013 0 comments

The Problem: Traditional Banking routes for corporates are becoming inadequate as businesses are growing meteorically, and busy corporate executives are always on the move. As a result, it becomes difficult and time consuming to get financial approvals from them via traditional channels like getting a cheque signed or over the Internet. Given that corporate banking transactions are complex, requiring multiple levels of approvals, this has become a key challenge for most corporates.

The Solution: ICICI Bank has developed iBizz, a mobile application for iOS and Android devices, which facilitates corporate clients to view their operative accounts, term deposit accounts and loan account information. With iBizz, corporate clients can approve workflow based fund transfers resulting in transparency and better fund management. The last 10 transaction details in the current account can also be studied. Since different departments of a company need to provide authorization for a transaction, it can be time consuming if it’s done over the internet when seniors of different departments are on the move. With this app, they can approve transactions on the go.

The Result: Thousands of downloads for the app has already happened, and likewise, a lot of unique customers have logged into the app to make transactions. Since “Corporate Internet banking” is in the palms of users, corporate customers are warming up to the app. As more awareness of the app is made, its utilization will increase.

Project Specs

Industry: Banking and Finance
Implementation Partner: Wipro Ltd
Deployment Location: Smartphone Platforms
Best IT round cleared: Semi-Finalist

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