ICICI Bank planning to allow transactions via Facebook

Third largest lender ICICI Bank today said it is working towards allowing its customers to make transactions through social networking site Facebook.

The Mumbai-based bank's chief technology officer Mukesh Kumar Jain said the bank has Facebook likes close to 8 lakh and claimed that ICICI is the only bank in the world which has an application to see bank statement, as well as put some servicing request on Facebook.

"It would be premature to say anything on this now. But we are working on that (allowing transactions through Facebook). Over a period of time, say next few months or so, you will hear some news about it," Jain told reporters here at a function.

"We have got into the Facebook because the younger generation will be visiting that place. We are able to give them secured account information," he added.

ICICI Bank is one of the early movers to tap social media platform to let customers access online banking features through Facebook.

The largest private bank allows its customers see bank statements, check account details, place request for cheque books and upgrade debit card from Facebook homepage.

On security aspects with regard to the Facebook Apps, he said account information is well secured.

"We don't see security as a big challenge. ICICI Bank will not have taken the step if we were not sure of security. We will never put customer data in danger," he replied.