Kotak Mahindra Bank received the
Product Excellence Award at the prestigious Banking & Payments Asia (BPA) Trailblazer Awards 2011
for Kotak Mobile Banking – Interbank Mobile Payment Service (IMPS). Through this facility customers can enjoy 24×7 instant fund transfers across
banks, enabling the beneficiary to avail the credit immediately. IMPS is powered
by the National Payment Corporation of India (NPCI), the umbrella organization
for all retail payment systems in India which also governs the
modalities of the IMPS payments.

 

Speaking on the occasion, Shalini
Mehta, EVP, Kotak Mahindra Bank said, With the explosion of mobile penetration in the country, this service is
set to benefit all banking customers at large. The award is a testimony to our
commitment to provide simple and easy financial solutions to our customers. It
would not have been possible without the vision, support and robust platform
provided by NPCI.”

 

The BPA Trailblazer Awards
highlight and recognize outstanding financial institutions that have exhibited
a degree of innovation and enterprise in product development (including
implementation, outcome and results) service delivery or process improvement.
67 submissions from 15 countries across Asia Pacific were evaluated as part of
the BPA Trailblazer Awards 2011.

By TelecomLead.com Team
[email protected]