ICICI Bank, one of the biggest private sector banks in India, has launched its global platform for money transfer, Money2India. The app, available for iOS and Android, enables NRIs to transfer money in simple steps. This enables transfer of money to individuals and entities having an account in Indian banks.
Speaking at the launch, Chanda Kochhar, MD & CEO – ICICI Bank said that the app is launched to enhance the experience of sending money to India. The improved interface and added features will make sure that the users can send money to their relatives and family members at just a tap on the phone. If the money transfer is done frequently to a recipient, the process will hardly take a few seconds.
She also added that the increasing threat of cyber crimes have made them work on the security and an extra layer to authenticate the transaction using biometric and one time password has been added. The user just needs to register a beneficiary and within minutes, it is ready to receive the funds.