SBI to offer Banking services on Social Networks

State Bank of India

Seeing the popularity of Facebook and Twitter, India’s leading public sector Bank SBI has launched ‘SBI Mingle’ which will allow the customers to access various banking services via Facebook and Twitter.

  • “Using SBI Mingle, the bank’s customers can do a host of banking services on their Facebook or Twitter accounts at their own convenience,” the bank said in a press release.
  • The new initiative was launched by SBI Chairperson Arundhati Bhattacharya on the occasion of 61st State Bank Day.
  • “The bank has witnessed tremendous engagement from its customers on each of its social platforms for queries, information, advice and complaint resolution. Staying attuned to the needs of the Gen Y customer and collaborating it with innovative technology, SBI is in the process of offering a gamut of new digital services to the customers on the go,” Bhattacharya said.
  • SBI is planning to introduce more services like request for chequebook, stop cheque, register for mobile banking, internet banking, SMS alerts and block ATM/debit cards on these platforms soon, she added.
  • SBI has also tied-up with e-commerce site Flipkart for pre-approved EMI facility on purchases.
  • The SBI-Flipkart partnership will provide an overdraft facility to pre-qualified set of customers for transacting on the e-commerce platform involving a minimum purchase of Rs 5,000.
  • There will be three options for the EMI (Equated Monthly Installments) i.e. 6 months, 9 months and 12 months.
  • “SBI plans to bring 100 villages under ‘SBI Digital Village’ initiative across the country by the end of 2016-17”, it added.
  • “Several activities are done to ensure 100 per cent financial inclusion with focus on migration to AnyTime Channels through State Bank Buddy, PoS, ATMs, Micro ATMs, Mobile Banking, Internet Banking. Credit needs are also addressed”, it added.

Banking services on Social Media is a whole new concept and SBI has taken this initiative. This will show way to other banks also and in near future this will be more common specially in youngsters.

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