Digital bank account sparks off a disruption
- Technology is hastening the transition of the bank account into a commodity. Is portability around the corner
- ICICI Bank recently tried its hand at being the disruptor by allowing even the customers of rival banks to use its mobile app. Bankers also say portability of accounts is around the corner
MUMBAI : Anyone who has opened a bank account before 2012 would remember the all-important introducer, whose signature and reference was needed for a new customer to get past the hallowed portals of the bank. Cut to 2020 and all a digitally-savvy customer needs is a mobile phone, an Aadhaar number, a PAN card. She doesn’t need to even physically visit the branch.