IndusInd Bank, one of the leading private sector banks in India, has launched a new mobile banking app called ‘INDIE’, which aims to provide a personalised and intelligent digital banking experience to its customers. The app, which was unveiled on October 4, 2023, offers a range of features, including ultra-flexible products, instant line of credit, transparent rewards program, high-interest savings account, fixed deposits, and safety and security features.
‘INDIE’ offers tailored financial insights and products
The app leverages advanced analytics to offer tailored financial insights to its customers, based on their spending patterns, preferences, and goals. The app also introduces industry-first features, such as products that users can customise to meet their specific requirements. For example, the app offers an instant line of credit of up to ₹5 lakh, unlike a standard personal loan. Users can choose the desired amount and withdraw only what they need at a given time, paying interest solely on the amount utilised. The app also allows users to choose their own account number, a feature that is not available in any other banking app in India.
‘INDIE’ rewards customers for their spending
The app also has a transparent rewards program, which allows customers to select preferred brands from leading e-commerce platforms and earn rewards of up to 3 per cent per ₹100 spent. These rewards can be redeemed for cashback directly through the app or for enticing deals and vouchers. The app also offers a high-interest-bearing savings account, which offers returns of up to 6.75 per cent per annum, and fixed deposits, which provide exclusive returns of up to 7.85 per cent per annum. Customers can even link their fixed deposits to their savings account for seamless utilisation.
‘INDIE’ ensures safety and security of transactions
The app also integrates safety and security features, such as numberless debit cards, which protect the cardholder details from being exposed. The app also provides single-use disposable virtual debit cards for transactions on lesser-known websites, dynamic PINs for ATM and POS transactions, and a ‘Super OTP’ feature that allows users to access one-time passwords even in low network zones. The app also has biometric authentication and face recognition features for enhanced security.
‘INDIE’ aims to acquire 1 crore customers in 3 years
The app is part of the bank’s digital strategy 2.0, which aims to accelerate the bank’s growth and customer acquisition. The bank plans to onboard 70 per cent of its mass banking customers through the app and aims to add 1 crore customers in the next three years. The app is available for both Android and iOS users and can be downloaded from the Google Play Store and the Apple App Store.
Sumant Kathpalia, Managing Director & CEO, IndusInd Bank, said, “We are delighted to introduce ‘INDIE’, a revolutionary hyper-personalised super-app designed to empower our customers with an all-in-one digital financial solution. INDIE is not just an app; it’s a financial ally, helping our customers navigate their financial journey with ease, intelligence, and security.”
Charu Sachdeva Mathur, Head of Digital Banking and Strategy, IndusInd Bank, said, “Considering the changing dynamics of customer expectations in terms of their digital banking needs, we believe INDIE was certainly the need of the hour. INDIE offers the best of both worlds with the trust and heritage of IndusInd Bank and cutting-edge technology to create a superior and differentiated experience for customers.”
