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ING Vysya Bank has seen transactions worth ₹25 crore during the first three weeks of the launch of its mobile banking solutions. ING Vysya’s mobile banking service, christened ‘Jiyo Easy’, has seen 38,000 downloads and 28,000 users since launch. “This faster pace of mobile app downloads and users are mainly from emerging cities so far and not from major metros,” Brett Morgan, Country Head – Branch Banking and Private Client Group, told Business Line .
“Non-tier I cities are witnessing faster pace of mobile ownership due to Android-based smart phone prices dropping.
“This has led to the bank seeing an increase in demand for mobile banking services,” he added. The mobile banking solutions have been introduced in partnership with IBM.
An online survey conducted in association with ING International Survey, London showed that 43 per cent of the respondents own a smart phone. “Another stronger reason for us to introduce the solution is that 50 per cent of those in the age group of 18-34 years use their mobiles more than desktops to access their bank accounts,” Morgan said.
ING SurveySonalee Panda, Head – Private Client Group and Wealth Management, said: “Over 47 per cent of Indian male respondents said they were using mobile phones for financial transactions.”
The survey also showed that 81.75 per cent of male participants felt more in control of their money after they started using mobile phone banking.
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