Mediaboss Marketing

Kotak Mahindra Bank announced the launch of Jifi, a first-of-its-kind fully integrated social bank account. Jifi transcends digital banking as we know by seamlessly incorporating social networking platforms like Twitter and Facebook with mainstream banking.

Jifi customers can receive account updates on Twitter as a Direct Message (DM) by simply tweeting to @KotakJifi with predefined hashtags. The banks dedicated Twitter handle @kotaksync will send out these messages, thereby eliminating human intervention and maintaining confidentiality. Jifi is designed for todays tech-savvy audience to transact in a secure and simple manner without the need to move out of their digital comfort zone.

KVS Manian, President, Consumer Banking, Kotak Mahindra Bank Limited, said, Jifi is a unique digital account that integrates social media platforms like Twitter and Facebook for secure and seamless on-the-go information. With Jifi, the first-of-its-kind digital account, Kotak takes banking to the next orbit by providing a hassle-free proposition to tech-savvy persons who prefer to stay online at all times.

Designed to fit into the social networking ecosystem, Jifis loyalty point programme encourages high level of interactivity among account holders. Customers can earn transactional loyalty points for specific banking activities, and social loyalty points for inviting and adding friends to the Jifi network, liking/commenting on Facebook, etc. Further, each referral can also earn them social loyalty points. These points can be redeemed for offers and can also be transferred to friends who are part of their Jifi network.

In addition to transacting on social media platforms, customers can transact via net banking and Kotak Mobile Banking app. Further, Jifi customers get a free one-year subscription of Kotak MoneyWatch - a 360 degree view of users personal finances, which allows them to check their investments online. Additionally, Kotak Offers web and mobile apps update them on various offers.

Jifi is a zero interest current account with no minimum balance conditions, and can be opened with an initial payment of just Rs. 5,000/-. All balances over Rs. 25,000/- automatically move into term deposits (TD) at applicable interest rates, giving high returns on idle money.

Opening a Jifi account is very simple, triggered by a self-invite by signing up via Facebook or email.

Jifi customers have access to all conventional bank offerings as well: pan-India branch and ATM network, Platinum debit card, all India toll free number, Net card & Net banking access etc.

Jifi is currently available for resident Indians in select locations including Mumbai, Delhi, Chennai, Kolkata, Bengaluru, Hyderabad, Pune, Coimbatore, Jaipur and Lucknow. The account, however, can be accessed from anywhere in the world.

IBS has helped Kotak Mahindra Bank in implementing this banking proposition.

Read more from the original source:
Kotak Mahindra Bank launches Jifi fully integrated social bank account