Facebook-owned WhatsApp messaging platform which recently launched ‘WhatsApp for Business’ service, and Payments feature allows you to carry out financial transactions using a software interaction. This feature allows banks to have a direct relationship with the customers on a real-time basis.

As part of making use of this feature and making banking mobile-friendly, Kotak Mahindra Bank and Saraswat Co-operative Bank have introduced various banking services through the messaging app Whatsapp.

Saraswat Co-operative Bank has also become the first cooperative bank of the country to provide information and other services through WhatsApp and ChatBot services.
As part of this feature, customers can also

• Initiate chat

• Check their balance

• Print mini statements

• Carry out mobile banking registration

• See product details

• Make requests/enquiries

• Download forms etc.

All these functionalities will be released in a phased manner as per the Bank Statement.

Whereas Kotak Mahindra Bank has informed customers that only their queries related to bank account, debit and credit cards will be addressed through WhatsApp.

Courtesy by : Daily Hunt