India is increasingly becoming mobile first nation with a large percent of population having access to mobile devices. Keeping this in mind and levering on the untapped possible banking population, (DBS) digibank has introduced an exhaustive mobile banking option or a bank in a mobile phone!
digibank is by design, completely electronic, paperless and hence doesn’t require any physical branches. For an average user (like me and you) this essentially means that for all the various reasons requiring us to visit a physical branch, the same can now be done on the smartphone. Indeed we have digital banking already on offering from existing banks (ICICI, HDFC, etc.) however none of them provide an all in all solution. With digibank, however, access to a branch is as close as opening the app in a matter of few seconds.
This being said, the first question that comes to mind is how does the bank achieve personal interaction aspect electronically? digibank tries to answer this with a virtual assistant embedded within the application to provide 24×7 guidance along with interactive engagement. How well all of this works is a different aspect altogether and a topic for separate article.
As of now digibank is only available in India and those interested can try out the mobile application available for Android and iOS. Links have been shared below.
Disclaimer – This post has been presented by DBS, but all thoughts and opinions are my own.