Banking in a Jifi

We use social networking for everything – keeping in touch with our friends, reading the news, airing political views, protesting against something, sharing joys and sorrows. It is an integral part of our life. Can you think of any more uses for this integral part of our life? How about banking through it? Sounds interesting?

Have you heard of Social Banking? Social banking lets you enjoy instant updates of your bank account through your personalised Twitter handle.

Kotak Mahindra Bank has now ventured into the arena of Social Banking. They have launched the first socially powered bank account Jifi. This bank account is has the Youth segment as the target. Jifi gives a new meaning to the word digital banking by integrating conventional banking with Twitter and Facebook.

This is the perfect hassle-free option for our tech-savvy generation who are online all the time and don’t have the time or the inclination for conventional banking. You can send a request to bank via a tweet for any bank account information you are looking for. Does that sound like a security hazard to you? Set your mind at rest. Every tweet request you send for any account information will access your Jifi account details which are safely stored on a highly secured virtual location. After getting the respective information, you will receive a DM on your personalised Twitter handle with the requested details.

Another unique feature of this bank account is The Loyalty Club. Loyalty club entitles you to earn social and transaction points, which can then redeemed for a host of lifestyle, shopping and dining offers. The Loyalty club has two kinds of points that you can earn – Transaction Points and Social Points. Transaction points can be earned by online transactions or paying bills online. You can earn Social points by inviting your friends to your Jifi circle and social activities are also rewarded, which includes liking and commenting on Kotak Jifi and Kotak Bank Facebook pages.

This is a new era of digital banking that I am really looking forward to. #JifiIsHere and I am sure it is here to stay.

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