‘Watch Banking’ Apps developed for Apple Watch by HDFC, ICICI Banks

 ICICI and HDFC banks stand up for developing the watch banking apps for the Apple Watch, which has not yet hit the Indian shores.

The Watch Banking apps helps users to locate their nearest banks, offers, schemes, discount sales and so on.

When asked about the reason for launching of the watch banking app, Rajeev Sabharwal, ICICI bank Executive Director said, "We are excited about anything which excites the customer". He added the bank's application for Android watches is already operational.

ICICI Bank witnessed 37 lakh transactions on its banking application last month and 30 per cent of its active user base does banking over the mobile. However, Sabharwal said, initially customers will only be able to do certain transactions like checking balance, viewing last three transactions, recharging prepaid mobiles and pay bills, but added that ICICI Bank is also mulling to add the near field communications-based features which make payments easier.

On the other hand, HDFC Bank has also announced that it would be the first domestic lender to have Apple Watch compatibility.

Aditya Puri, HDFC Bank MD and CEO said, "Your bank is set to become the first domestic lender whose MobileBanking App will be available on the Apple Watch which is to be launched here this month".

HDFC Bank customers will be able to do 11 transactions on their Apple device using thee watch banking service.

Thus, Watch-Banking service/ apps would definitely revolutionise the baking sectors, especially in developing countries.