ICICI Bank launches ‘iBox’, a unique self-service delivery facility for customers
January 29, 2020
- It enables customers to conveniently collect key banking deliverables on all days, 24x7
- The first-of-its-kind initiative is available at 50 branches in 17 cities
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The first-of-its-kind iBox facility at one of ICICI Bank’s branches in Mumbai |
The first-of-its-kind iBox facility at one of ICICI Bank’s branches in Mumbai
Mumbai: ICICI Bank today announced the launch of a unique self-service delivery facility, enabling its customers to collect their deliverables such as debit card, credit card, cheque book and returned-cheques, from a branch close to their home or office, in a hassle free manner, anytime any day. The Bank has introduced the facility, called ‘iBox’, at over 50 branches in 17 cities in the country. This facility is especially useful for customers who are not available at home to receive their package during working hours. The ‘iBox’ terminals have been stationed outside the premises of the Bank’s branches which are accessible beyond the official hours. It is equipped with an OTP based authentication system for enhanced security and can be accessed by customers using their registered mobile number 24X7, on all days including holidays.
The customer can avail of this first-of-its-kind facility if the branch, where they want to take delivery of the package containing their banking deliverable, houses an ‘iBox’ terminal. The fully automated process informs the customer of the current status of their package via an SMS at every stage-- from dispatch to delivery. Once the package arrives in the ‘iBox’ terminal, an SMS notification is sent to the customer, which carries the GPS location of the ‘iBox’, an OTP and a QR code. The customer has to then visit the ‘iBox’, enter his/her registered mobile number and submit the OTP or show the QR code to open the box and access the package. The deliverable stays in the ‘iBox’ for seven days during which the customer can collect at any time of the day. The iBox therefore, brings in more flexibility for the customers and eliminates the need to visit the branch during busy working hours.
Speaking on the initiative, Mr. Sandeep Batra, President, ICICI Bank said, “We have always been pioneering innovative and path-breaking banking solutions for enhancing the convenience for our customers. ‘iBox’ facility enhances our offering to take banking to our customers when they want it. They can collect these deliverables at a time of their choosing, 24x7, and on all days including holidays.
The Bank has equipped the delivery facility with a robust security mechanism, which includes features like OTP based authentication and live tracking of the status of the dispatched deliverables. This ensures that the documents stay safe till the time they are collected by their designated recipients. The ‘iBox’ facility also aids the Bank in decongesting its branches, thereby leaving more time for customer engagement.”
Here are the key benefits of the iBox terminal:
- Convenience to customers, available 24x7 on all days: Customers can access ‘iBox’ at any time of the day as per their convenience including Sundays & holidays
- Live status updates: Customers are notified of the current status of their dispatched deliverables at every stage, thereby making the process hassle-free.
- Robust security: The ‘iBox’ can be accessed by the customer only using the registered mobile number and is secured with an OTP based authentication system.
The branches which presently house the iBox terminals are located in close proximity to important business centres in major Indian cities including Delhi NCR, Mumbai, Chennai, Kolkata, Bengaluru, Hyderabad, Pune, Navi Mumbai, Surat, Jaipur, Indore, Bhopal, Lucknow, Nagpur, Amritsar, Ludhiana and Panchkula.
To know more about iBox, visit https://www.icicibank.com/Personal-Banking/ibox.page
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About ICICI Bank: ICICI Bank Ltd (BSE: ICICIBANK, NSE: ICICIBANK and NYSE:IBN) is a leading private sector bank in India. The Bank’s consolidated total assets stood at ₹13,04,911 crore at December 31, 2019. ICICI Bank's subsidiaries include India's leading private sector insurance, asset management and securities brokerage companies. It is present across 15 countries, including India.
Certain statements in this release relating to a future period of time (including inter alia concerning our future business plans or growth prospect s) are forward - looking statements intended to qualify for the 'safe harbor' under applicable securities laws including the US Private Securities Liti gation Reform Act of 1995. Such forward - looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward - looking statements. These risks and uncertainties include, but are no t limited to statutory and regulatory changes, international economic and business conditions; political or economic instability in the jurisdictions where we have operations , increase in non-performing loans , unanticipated changes in interest rates, for eign exchange rates, equity prices or other rates or prices, our growth and expansion in business, the adequacy of our allowance for credit losses, the actual growth in demand for banking products and services, investment income, cash flow projections, our exposure to market risks, changes in India’s sovereign rating, as well as other risks detailed in the reports fi led by us with the United States Securities and Exchange Commission. Any forward looking statements contained herein are based on assumptions that we believe to be reasonable as of the date of this release. ICICI Bank undertakes no obligation to update forward - looking statements to reflect events or circumstances after the date thereof. Additional risks that could affect our future operating r esults are more fully described in our filings with the United States Securities and Exchange Commission. These filings are available at www.sec.gov
