NEWS & ADVICE : SAVINGS ACCOUNTS
Will Citibank launch banking services on Facebook?
By Neelima Shankar
Jul 16, 2012
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The U.S. based banking gaint, Citibank, has raised questions on whether it was planning to launch banking services via facebook. On Saturday night, it posted messages on popular social networking sites like Facebook and Twitter about banking facilities on facebook.

The bank, in its official facebook and twitter pages, posted the message, "If you could do your banking on Facebook - Would you?" This question received mixed reactions from the public, with most of the people concerned about security issues. The bank has not issued any official statement on this matter, yet.

It is to be noted that India's largest private sector bank, ICICI Bank, already offers banking services through Facebook. On security issues, the bank saysthat its 'ICICI Bank App' is completely secure due to safety features like , "Secure SSL connection, two-factor authentication process (and) activity details not (being) published on Facebook Wall."

The bank further adds, "There is no charge for this application. ICICI Facebook banking application is totally secured. All communication between the app and ICICI server is encrypted. No data is stored on Facebook. All communication is secured and encrypted."


 


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