Banking in India has always been a tough business. There are private and public sector banks fighting for various different products in the banking space. There are many international players in this sector which are also closely competing with Indian banks. They all are adopting a customer-centric approach to maximize the earnings.
ICICI bank is a renowned bank in the banking circuit. It has always been in the news because of its good banking practices. The bank provides online banking services to its customers. It has got lot of ATM’s and branches all over India. One can easily find the nearest bank branch by putting in the keyword ‘ICICI bank IFSC code’.
The ICICI bank IFSC code details are available on the bank website. It always comes out with innovative products for satisfying its existing customers and attracting new customers. In this era of digital banking, banks need to adopt technology for serving customers in a better fashion. So now can see innovations held in mobile banking and digital banking. Recently it came out with ‘Smart Vault’ a fully automated locker. There are many other banks which provide locker service but ‘Smart Vault’ is unique. You can access it anytime and any day and it is built with the help of robotic technology. With this launch, the bank can now accept to further expand its customer base from 3 lakhs lockers to a million or even more.
The locker doesn’t require any human intervention and be operated automatically. It uses Radio Frequency Identification (RFID) technology. This technology enables high-end security to your valuables inside the locker. The access to the locker is through biometric authentication which is normally used in offices for employee attendance.
What makes this locker more secure is the multi-level security features which one has to go through for accessing things inside the locker. It also includes swipe through debit card, ATM pen authentication, and more other layers. The product provides the facility of another person from your family to access the locker by providing them another debit card.
The locker used for this product is made of superior quality steel which can sustain a weight up to 70 kg. This is kept in mind by considering the fact that majority of Indians prefer to keep gold in lockers. In foreign countries, the average weight of the lockers is just 25 kgs. There are 4 different sizes of lockers for customers to choose.
This locker is available 24*7, including weekends and post banking hours. The customers can access the bank account any time without any interference from bank staff. The launch of this product will be a cherry on a cake for ICICI bank as it already has a plethora of other products for customers to choose. There are only a few players in the overseas who are providing this kind of service.
This product has become a good case study from the point of view of government initiatives such as ‘Make In India’. Mainly because the people who have designed this product are based out of India.