ICICI Bank Launches 'iFinance': Check What It Is, Eligibility, Benefits, And More

File Photo

New Delhi: In a move to make digital solutions accessible to commoners, ICICI Bank has unveiled a service called 'iFinance,' which offers crores of retail customers and sole proprietors a consolidated view of their savings and current accounts in a single location. As per the bank's claims, even customers of other banks can benefit from this innovative feature.

ICICI Bank has harnessed the Account Aggregator ecosystem to introduce 'iFinance' across its digital platforms, including the iMobile Pay app, Retail Internet Banking (RIB), Corporate Internet Banking (CIB), and InstaBIZ, the bank's mobile app for businesses. ()

What Is ICICI Bank's iFinance?

'iFinance' delivers a unified dashboard where users can effortlessly access their account balances, gain valuable insights into their spending patterns, and download statements, among other features. ()

This comprehensive dashboard enhances user convenience, helping individuals exercise better control over their expenses and effortlessly monitor their financial matters.

iFinance: Benefits

Linking And viewing Of All Accounts

Users can securely link their savings and current accounts from various banks and view their account balances in one consolidated location.

Summary Of Income And Expenditure

The facility offers insightful summaries of users' income and expenses, facilitating proper financial monitoring.

Tracking Spending And Payments

Users can monitor their expenditures and receive category-wise information about their expenses, contributing to improved expense management and overall financial health.

Complete User Control

This feature allows users to link and de-link accounts in real time, providing them with increased convenience and flexibility.

Detailed Statements

Users can download consolidated account statements from all linked bank accounts.

How To Use 'iFinance' Facility?

For ICICI Bank Customers

- Login through ICICI Bank's digital platforms, namely iMobile Pay, Retail Internet Banking, Corporate Internet Banking, and InstaBIZ.

- Click on the 'iFinance' button and verify your credentials.

- After verification, all bank accounts held with ICICI Bank and other banks will be pre-populated.

- Users can select the banks to link and provide consent to link their accounts.

- Approved accounts will be displayed to the user.

For Customers Of Other Banks:

- Download the ICICI Bank app.

- Register with a mobile number.

- Click on 'iFinance' and follow the same steps mentioned above to enjoy the benefits of this feature.