Mobile banking to overtake internet banking as half of the digital transactions are happening on mobile, says ICICI

According to B. Madhivanan, around half of the digital transactions of savings account are taking place on mobile banking.


Lending major ICICI Bank on 12 January said that it foresee mobile banking to overtake internet banking.

Mobile banking to overtake internet banking as half of the digital transactions are happening on mobile, says ICICI

Representational image.

According to the lending major's Group Executive and Chief Technology and Digital Officer B. Madhivanan, around half of the digital transactions of savings account are taking place on mobile banking.

"I believe that in the near future, growth in mobile banking will be led by voice based services and technology, AI (artificial intelligence) led personalised suggestions and services for every customer and ‘satchet' like financial products with small ticket digital loans and insurance," Madhivanan said on the occasion of ICICI Bank's iMobile app completing 10 years of operations.

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