First Bank in India to Launch Bus Booking via Mobile Banking Appfor Travel across India’s Kona Kona
Mumbai, December 16, 2015: Kotak Mahindra Bank’s(KMB) Phone Phone Mein Kotakcampaign showcases how KMB’s mobile banking app and Hashtag Banking features have transformed and simplified the way people lead their lives. As a sequel to KMB’s popular Kona Kona Kotak campaign, Phone Phone Mein Kotakexplores the change that is sweeping across India as a result of technology, innovation, and customer orientation. To further strengthen its mobile banking features, KMB has become India’s first bank to offer booking of bus tickets on its mobile banking app.
Customers can now seamlessly book bus ticketsfor travel across India’s konakonaat discounted prices, without concerns of transaction failure. KMB offers secured checkout solution where customers can make payment directly from theirbank account or using their credit card. This innovation expands KMB’s travel suite on the app, which also includes flight tickets and hotel booking.
Karthi Marshan, Sr. EVP & Head – Group Marketing, Kotak Mahindra Bank said, “Banking has truly evolved from traditional branch visits to anytime, anywhere banking on several screens, mobile being the most popular and widely accessed. The adoption rate of our mobile banking app is amongst the highest in the country. As pioneers in digital banking, we offer as many as 77 myriad services through our banking app that include mobile and DTH recharge, ecommerce transactions, etc. We are highlighting some of our innovative features through Phone Phone Mein Kotak.”
Deepak Sharma, EVP & Head – Digital Initiatives, Kotak Mahindra Bank said, “Travel is the largest e/m-commerce segments accounting for over 60% of total transaction volume, and it continues to grow at a fast pace. We are focused on providing seamless travel solutions for customers within our app, thereby reducing transaction failure and offering secured checkout solution. In addition to flight and hotel bookings, customers can now book bus tickets on our mobile banking app at a discounted price. This innovation is in line with our philosophy of providing digital banking solutions that simplify day-to-day life.”
Phone Phone Mein Kotakpegs on three distinctive features of Kotak Mahindra’s Banking Experience on Mobile: Instant Money Transfer, Tweet to Buy a Book and Flight Booking, which gives viewers a perspective on the transactions they can do easily on their phone. It tries to communicate that with passage of time, the means of banking may be evolving but the emotions are just the same.
About Kotak Mahindra Bank
Established in 1985, Kotak Mahindra group is one of India's leading financial services conglomerates. In February 2003, Kotak Mahindra Finance Ltd. (KMFL), the group's flagship company, received banking license from the Reserve Bank of India (RBI), becoming the first non-banking finance company in India to convert into a bank - Kotak Mahindra Bank Ltd. (KMBL).
Effective April 1, 2015, ING Vysya Bank Ltd has merged with Kotak Mahindra Bank Ltd creating a Rs 2 trillion institution (consolidated). As of September 30, 2015, the merged entity – Kotak Mahindra Bank Ltd. has a significant national footprint of 1,269 branches and 1,934 ATMs spread across 649 locations, affording it the capacity and means to serve even better.
The Bank has three Strategic Business Units catering to retail and corporate customers across urban and rural India.
The Consumer Banking business offers complete retail financial solutions including a variety of savings and loan products and innovative digital solutions - Jifi, a first-of-its-kind fully integrated Social Bank Account, redefines digital banking by seamlessly incorporating social networking platforms like Twitter and Facebook with mainstream banking. KayPay is the world’s first bank agnostic instant funds transfer platform using Facebook. On the savings bank account front, the Bank offers higher interest rate at 6% p.a. for balances of over Rs. 1 lakh, and provides a comprehensive suite of investment services and transactional conveniences. The Bank’s Wealth Management business is one of India’s largest and provides customized financial solutions to high net worth families.
The Corporate Banking business offers a comprehensive portfolio of products and services – working capital financing, medium term finance, current account, trade services, cash management services, export credit, transaction banking, custody services, debt capital markets, forex and treasury services.
The Commercial Banking business offers a comprehensive portfolio of banking products and services to Small and Medium enterprises (SME) engaged in manufacturing, trading, services and export businesses. It has specialized units, which provide finance to Agri Sector, Commercial Vehicle operators and Infrastructure business. It services farmers across India by providing term loans to purchase tractors. The Bank also offers small ticket Gold loans and business loans.
For more information, please visit the company’s website at http://www.kotak.com/
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