IndusInd Bank Launches INDIE - A Customer-Centric Digital Banking App
IndusInd Bank has launched 'INDIE,' a financial app offering personalised financial services, harnessing advanced analytics to offer tailored insights and an array of innovative features.
One of INDIE's features is its flexibility in financial product offerings. For instance, users can access an instant credit line of up to Rs. 5 lakh, a departure from conventional personal loans. This feature allows customers to borrow precisely what they need when they need it, paying interest solely on the borrowed amount.
INDIE also offers a transparent rewards program. Customers can earn rewards points valued at Rs 1 for every Rs 100 they spend with their preferred brands from leading e-commerce companies. This unique program enables users to accumulate rewards of up to 3 per cent of their spending, which can be redeemed for cashback directly within the app or used for enticing deals and vouchers. Importantly, users can modify their selected brands as their preferences evolve.
The app incorporates few aspects of IndusInd Bank's traditional offerings. This includes features like choosing a specific account number and access to a high-yield savings account with returns of up to 6.75 per cent per annum. Furthermore, INDIE offers fixed deposits with exclusive returns of up to 7.85 per cent per annum, with users being able to link these deposits to their savings accounts. This functionality enables customers to use their fixed deposits as a source of funds when their savings balance runs low while still enjoying the benefits of high-interest returns.
Keeping security at the forefront, INDIE introduces measures such as numberless debit cards to safeguard users from card details exposure, single-use disposable virtual debit cards for added security during transactions on less-known websites, dynamic PINs for ATM/POS transactions instead of static ones and a 'Super OTP' feature that ensures one-time passwords are accessible even in low network zones.
The app's data and analytics engine empower users with smart payment options and proactive customer engagement. It sends intelligent reminders based on transaction history to help users pay their bills promptly and manage their account balance to avoid recurring payment failures. INDIE also tracks expenses, providing insights into monthly spending against budgets and offering relevant tips for saving more or suggesting products for meeting emergency financial needs.
Sumant Kathpalia, Managing Director & CEO of IndusInd Bank, expressed his excitement in introducing INDIE as a step toward enhancing the bank's digital strategy. He emphasised that INDIE is more than just an app; it's a financial ally that simplifies, enhances and secures customers' financial journeys.
