In its first, ICICI Bank launches ‘InstaFX’ mobile app to help customers obtain Forex Prepaid Card… – Moneycontrol.com
The InstaFX app enables the authorised money changers, who are partners of the Bank, to complete the KYC verification and validation of customers digitally and on a real-time basis.
ICICI Bank on January 20 launched a new mobile application ‘InstaFX’ for authorised money changers to help customers of any bank get ‘ICICI Bank Forex Prepaid Card’ swiftly. The bank is the first in the country to offer such facility to money changers.
The app enables the authorised money changers, who are partners of the Bank, to complete the KYC verification and validation of customers digitally and on a real-time basis.
The facility significantly improves customer convenience as the ‘ICICI Bank Forex Prepaid Card’ gets activated swiftly within a few hours, as against the industry practice of up to two-days.
The app enhances convenience of customers, even if they are not customers of our bank, as it facilitates swift activation of the Forex Prepaid Card.
Speaking on the initiative, Mr. Sudipta Roy, Head- Unsecured Assets, ICICI Bank said, “ICICI Bank has always been at the forefront of introducing pioneering innovations. In recent years, we have leveraged technology to introduce a slew of convenient and digital retail products that can be availed quicker than their available counterparts in the industry. This new app, ‘InstaFX’, is yet another addition to the series of such products and offerings.”
Here are the key features of ‘InstaFX’:
Real-time Permanent Account Number (PAN) validation: The app enables money changers to validate the customer’s PAN from NSDL, the customer’s name and date of birth from his/her PAN card as well as the status of the PAN card instantly.
Real-time passport validation: The money changers can validate the customer’s passport instantly through the MRZ code and further against PAN data for name and DOB.
Instant photo: The customer’s live picture can be captured and validated against their passport photo.
The ‘InstaFX’ app can be downloaded and operated from any android devices. Customers can avail the ‘ICICI Bank Forex Prepaid Card’ by visiting the partner money changer outlets in cities or at airports across the country.
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