ICICI Bank launches ‘Mine’ for millennial customers

Date:

Trending

India’s leading private sector bank, ICICI Bank has announced the launch of India’s first comprehensive banking program for millennial customers (From age bracket of 18 years to 35 years).

- Advertisement -

“Inspired by ‘Millennial Network’, the proposition is called ‘ICICI Bank Mine’ and offers an instant savings account, a feature-driven iMobile application that offers investment guidance to suit the demand of millennials, curated credit and debit card, instant personal loans & overdrafts, and even an experiential branch with social engagement space,” the bank said.

Speaking on the launch, Anup Bagchi, Executive Director of ICICI Bank said,  “Our country is uniquely poised for a demographic dividend in the coming years with millions of youth expected to join the workforce. We estimate that the country has around 40 million progressive young millennials, who would contribute significantly to the economy and banking in the years to come. Our extensive research shows that millennial customers want banking to be simple, digitally enabled, and customized.” 

- Advertisement -

“Based on these insights, we have created ‘ICICI Bank Mine’, the country’s first full banking stack for millennials. It offers a mobile-first, highly personalized, and experiential led banking experience to them. We have noticed that, while the millennial customers want ‘digital first’, they don’t want a ‘digital-only’ bank. This has led us to introduce a new format experiential branch suited to the lifestyle of millennials,” Anup added.

“ICICI Bank Mine also offers investment guidance to customers through a complete user experience focused iMobile application. For this, we have integrated the investment platform of Sqrrl, a leading fintech in the investment space, with our mobile application iMobile, to guide customers to invest easily and in a tech-savvy way,” He said. 

Further adding to the statement, Anup Bagchi, said, “We intend to continue to integrate relevant fintech offerings in the iMobile app for our millennial customers, and we believe that ‘ICICI Bank Mine’ offers millennial customers a 360-degree holistic and most comprehensive proposition in a single place across their life stages.”

The key offerings of ‘ICICI Bank Mine’ are given below:

Instant savings account opening: A millennial can easily open a savings account completely digitally and instantly on the Bank’s website or iMobile application using his/her Aadhaar and PAN card.

The account number and a virtual debit card are instantly generated which can be used by customers immediately to start transacting and make payments online.

New look iMobile: The customers get instant access to a new-look ‘iMobile’, the Bank’s mobile banking app, with a refreshed UI/UX and millennial friendly language. The new version provides two additional benefits, in addition to the already existing bouquet of features, to customers.

One, it provides a customisable personal finance management tool that uses real-time AI based analytics to create one’s own budget, provide insights on history of transactions, a spending tracker with alerts on utlisation of budgets and recommendations for other products based on the spends. 

These recommendations include credit/debit card upgrade, reward redemption, investment among others. Two, this version of ‘iMobile’ enables the millennial customers to save for their goals in a simple way. 

Customers can pick up their investment option, out of a list of three, as per their goal and their risk profile. The Bank offers this service in association with Sqrrl, a prominent mutual fund investment fintech. The Bank also intends to continue to integrate relevant fintech offerings in this version of the iMobile app for its millennial customers.

New credit card with curated features: ICICI Bank offers the country’s first flexi-plan credit card to enable ‘ICICI Bank MINE’ customers to choose a plan every month in order to suit their lifestyle and monthly requirement.

They can pick a plan from a bouquet of three just by a click on iMobile. The card also offers muti-brand alliances with key digital brands Amazon, Swiggy, Zomato, Myntra among others and offers cashback of up to 5% on spends on key digital brands.

Instant personal loan and overdraft facility: Millennial customers can avail two instant credit facilities through ‘iMobile’ in order to fulfil their aspirations. One, pre-approved customers can avail of ‘Insta Personal Loan’ facility up to Rs 25 lakh in just three seconds for their one-time requirements like purchase of consumer durables, wedding, relocation among others.

Two, they can also fund unforeseen monthly recurring expenses by availing the facility of Insta Flexicash, an overdraft linked to their ‘ICICI Bank Mine’ account.

Different looking ICICI Bank branch with experiential engagement area: For advisory on banking products like investments and full range of loans, the Bank has added a physical presence of an experiential branch targeted at millennials.

Its uniqueness lies in its format that provides an experiential space with full digital self-service kiosks, digital banking terminals and dedicated area for engagement and entertainment sessions.

Also, the branch at times will serve as the venue for ‘Mine Live’, an event platform that hosts specially curated virtual events in the form of workshops, panel discussions, talent shows on travel, food, health and entertainment. The first experiential branch for millennials has been opened at Manyata Tech Park in Bengaluru.

THE SNAPSHOTS

Sign up to get quick snaps of everyday happening, directly in your inbox.

We don’t spam! Read our privacy policy for more info.

- Advertisement -

Support our independent journalism PayPal (Outside India) For PayU (For Indian Readers).

Krishna Mali
Krishna Mali
Founder & Group Editor of TechGraph.

More Latest Stories

More Articles

Alphabet Director R. Martin Chavez Granted 2,016 Stock Units

R. Martin Chavez, a director at Alphabet Inc., received 2,016 Class C Google Stock Units on July 2 as part of the company’s annual...

Jensen Huang Files to Sell NVIDIA Shares Worth $12.45 Million

Jen-Hsun Huang, President and CEO of NVIDIA Corporation, filed to sell 75,000 shares of company stock valued at approximately $12.45 million, according to a Form 144 submitted to the U.S. Securities and Exchange Commission on July 11. The proposed sale is scheduled for the same...

Alphabet Director L. John Doerr Receives Stock Units in Annual Grant

L. John Doerr, a director at Alphabet Inc., received 2,016 Class C Google Stock...

Alphabet Director Frances Arnold Awarded Stock Units in Annual Grant

Frances Arnold, a director at Alphabet Inc., received 2,016 Class C Google Stock Units...

Meta Legal Chief Jennifer Newstead Disposes of 519 Shares

Jennifer Newstead, Chief Legal Officer at Meta Platforms, sold 519 shares of the company’s...

Profit-Driven: 4 Proven Cost-Cutting Strategies To Scale Your Business Fast

Profitability is obviously about selling plenty of products and services. It’s also about spending...

NVIDIA CEO Jensen Huang Sells Over $28 Mn in Stock Sales Across Three Days

Jen-Hsun Huang, President and CEO of NVIDIA Corporation, sold more than 225,000 shares of...

Aravind Putrevu on CodeRabbit’s Approach to AI Code Review

Speaking with the TechGraph editorial team, Aravind Putrevu, Director of Developer Marketing at CodeRabbit,...

NVIDIA Director A. Brooke Seawell Files to Sell $8 Mn in Stock

A. Brooke Seawell, a director at NVIDIA Corporation, has filed to sell 49,131 shares of company stock with an estimated market value of approximately...

NVIDIA Director A. Brooke Seawell Files to Sell Shares Worth $8 Mn

A. Brooke Seawell, a director at NVIDIA Corporation, filed to sell 48,971 shares of...

IoT Filters and Compliance in Cleanrooms

In today’s world of consistent quality controlled manufacturing, the people who work inside a...

Chan Zuckerberg Initiative Sells Meta Shares Worth $17.8 Million

The Chan Zuckerberg Initiative Foundation sold 25,302 shares of Meta Platforms Inc. between June...

From Function to Fashion: Innovative Trends in Pre-Roll Packaging

The industry continues to flourish with innovation at its core, especially when it comes...

Maximizing Sales Performance With Altify Insight Map: A How-To Guide

In the competitive realm of sales, leveraging advanced tools and strategies can significantly improve outcomes. The Altify Insight Map is one such innovation that...

What Does It Take to Run a Manufacturing Business?

Running a manufacturing business demands strategic planning, robust infrastructure, and continual adaptation to market and technological shifts. From evaluating market demand and securing capital to managing daily operations and ensuring regulatory compliance, successful manufacturers balance efficiency, quality, and cost control. Whether you're producing concrete,...

The Most Overlooked Car Issues That Lead to Costly Repairs Later

Owning a vehicle comes with a myriad of responsibilities, often involving regular maintenance to...

Construction Jobs Expo 2025: RDS Arena, Dublin, Ireland

If you look at the statistics for recent years, you can see that the...

US Senate rejects bid to limit Prez. Trump on Iran Strikes

The Republican-led U.S. Senate on Friday rejected a Democratic-led effort to block President Donald...

Indian Economy Stays Strong: 6.5% Growth, Inflation at 6-Year Low

India’s economy maintained robust momentum in FY25, with real GDP rising by 6.5%, according...

Complete Guide to Playing the World’s Biggest Lotteries from India

Have you ever dreamed of winning massive jackpots from legendary lotteries like Powerball, EuroMillions,...

Cryptocurrencies and the Lottery World: A New Era with LottoPark

The world of lotteries has long been associated with excitement, dreams of fortune, and...

Intel Report: Iran’s Nuclear Progress Delayed but Not Destroyed by US Strikes

A day after the ceasefire between Israel and Iran, striking revelations have emerged from...

Nvidia CEO Jensen Huang Files to Sell $7.35 Million in Stock

Nvidia Corporation, CEO and President Jensen Huang has filed a notice with the U.S....

NVIDIA CEO Jensen Huang Files to Sell 50,000 Shares

NVIDIA Corporation CEO Jensen Huang filed a Form 144 notice with the U.S. Securities...

Chan Zuckerberg Initiative Sells Meta Shares Worth $17.8 Million

The Chan Zuckerberg Initiative Foundation sold 25,302 shares of Meta Platforms Inc. between June...

Shadow AI: What SMEs Need to Know About the Hidden Risks of Free AI Tools

These days many small and medium-sized enterprises (SMEs) are rapidly implementing AI in a...

Navigating the Complexities of EV Fleet Financing and Leasing Options in India

As India's transportation sector accelerates towards electrification, the shift from internal combustion engine (ICE)...

How is AI being used to detect unusual customer behavior & fraudulent transactions in real-time?

In an era of hyper-digital transactions and global commerce, it has been more difficult...

Ankur Vij of Techjockey on B2B Software Buying Shifts, AI Trends, and Market Expansion

In a conversation with TechGraph, Ankur Vij, Senior Vice President of Business Growth at...

From Function to Fashion: Innovative Trends in Pre-Roll Packaging

The industry continues to flourish with innovation at its core, especially when it comes...

Nvidia CEO Jensen Huang Files to Sell $7.35 Million in Stock

Nvidia Corporation, CEO and President Jensen Huang has filed a notice with the U.S....

Mark Zuckerberg Files to Sell Meta Stocks Worth $9.78 Million

Meta Platforms CEO and chairman Mark Zuckerberg has filed a Form 144 with the...

NVIDIA CEO Jensen Huang Files to Sell 50,000 Shares

NVIDIA Corporation CEO Jensen Huang filed a Form 144 notice with the U.S. Securities...