After ICICI Bank, now Kotak Mahindra Bank offers banking services on WhatsApp

Your WhatsApp messenger may soon turn into a bank as private sector lenders mull over providing basic banking services via Facebook-owned messaging app. The latest to join the list is Kotak Mahindra Bank, which earlier this week launched a pilot project to provide banking services over the global chat application WhatsApp.

Now, customers can interact with Kotak Mahindra Bank on its verified WhatsApp number +91 22 6600 6022. The WhatsApp channel will direct customers seeking information on service requests such as updating PAN, mobile number, email ID, Aadhaar number, activating/deactivating passbook, updating FATCA declaration among others, the bank said.

As per this pilot launch, the Kotak’s ‘811’ digital account  customers will get the option of receiving their digital welcome kits from the bank's verified WhatsApp number.

“The familiarity and simplicity of the platform makes it easy for customers to interact with their bank and get answers to queries in a seamless and convenient manner,” revealed Kotak Mahindra Bank chief digital officer Deepak Sharma to TOI.

However, Kotak has not yet specified the date for the full-fledged launch. 

ICICI Bank, meanwhile, is already running its pilot project. The private lender is currently piloting WhatsApp within a closed user group and may launch the service for customers within four weeks. 

Online movie ticketing website BookMyShow was one of the first among those who experimented with WhatsApp’s enterprise platform.

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WhatsApp already has a money transfter feature, using which WhatsApp can link their bank account to the messaging app via Unified Payments Interface (UPI) and begin making payments.

Meanwhile, the ministry of electronics and IT is learnt to have asked National Payment Corporation of India (NPCI) to check if WhatsApp payments service conforms with the RBI rules and data security of customers before the mobile messenger app scales up its services. 

"The data is stored securely, and sensitive user data such as the last 6-digits of a debit card and UPI PIN is not stored at all," WhatsApp said.