News
Issue #2002 - 39 (October 2002)
(Updated Oct. 15, 2002)

APPLICATIONS & DEVELOPMENTS

ICICI Bank of India Offers Wireless Banking with Air2Web Wireless Platform

Atlanta, GA . October 7, 2002. ICICI Bank, India's largest private sector bank, has contracted with Air2Web India to use their Mobile Internet Platform to provide ICICI Bank customers with wireless access to their banking and credit card accounts.

Initially, ICICI Bank customers will be able to receive alerts via Air2Web's 2Notify technology on their Short Message Service phones (SMS), which will give them their checking account and credit card balances. The second phase of the project will allow ICICI Bank customers to access their checking
account balance, receive a statement of their account, order check books, and access customer service agents. With credit card accounts, they will be able to pull up available credit, payment details, payment status, and request a mini statement, as well as access customer service representatives. 

"Our new wireless applications are going to help customers better manage their checking and credit card accounts by allowing them to receive and request pertinent information anytime, anywhere via their digital cell phone," said Ms. Chanda Kochhar, Executive Director of ICICI Bank. "With this wireless service, our customers can keep track of their account balances, as well as request details on how to pay credit card balances, confirm when they have been paid, and receive banking and credit card statements. We feel this value added service will improve our customer service offering."

"ICICI Bank has developed a wireless application which enables their customers to get their banking and credit card account information when and where they want it and from their most common wireless device, their digital cell phone," said Sanjoy Malik, President and CEO of Air2Web India. "ICICI Bank has always been known for its use of cutting edge technology. So, it is no surprise that they are launching one of the first wireless banking products to not only incorporate automated notifications of balances of both your credit card and bank accounts, but one that also allows customers to pull timely account information This new wireless service gives ICICI Bank customers substantially more control and flexibility over their accounts, thus enhancing their customers' experience and another added value which sets ICICI Bank apart from its competitors." 

Air2Web's Mobile Internet Platform provides businesses with a competitive edge enabling its customers to wirelessly access critical back-end information residing in existing CRM, ERP, SFA or SCM systems. Information can be accessed across any network and with any carrier and via any digital wireless device including Short Message Service (SMS) and web-enabled phones, personal digital assistant devices (PDAs), and pagers. Air2Web's ability to work with multiple data and audio formats streamlines integration with existing applications. 

About ICICI Bank
ICICI Bank (NYSE:IBN) is the largest private sector bank in the country, providing a broad spectrum of financial services to individuals and companies. ICICI Bank today services a growing customer base of more than 5 million customer accounts and 5 million bondholders accounts through a multi-channel access network. This includes over 400 branches and extension counters, 1080 ATMs, call centres and Internet banking.

The ICICI Bank Credit Cards was launched in January 2000 with three variants Solid Gold, Sterling Silver and True Blue. The card is now available in 36 cities across India. The customer base is over 6.5 million 

About Air2Web India
Air2Web India is a wholly owned subsidiary of Air2Web, which like Air2Web's US operation, provides the same state-of-the-art application hosting with day to day applications management and round- the- clock support, as well as software licenses of the Air2Web Mobile Internet Platform. Air2Web India serves its customers in the Asia Pacific region.

For more information: http://www.air2web.com

MobileInfo Comments and Advisory:  It is interesting to see Asian countries offer same type of wireless banking services that have not taken off in USA and Europe. We anticipate only limited penetration in India.  

Note: This news release may contain forward-looking statements. Readers should take appropriate caution in developing plans utilizing these products, services and technology architectures.  All trademarks used in this summary are the property of their respective owners.