ATLANTA-Federal Bank of India said it signed up more than 70,000 subscribers to its new text-based alerts service, which works over technology from Air2Web. The service alerts users to balance and account information.
“The response has been tremendous. Many of our new customers have opened up accounts with us because of the alerts capability,” said KNC Nair, chief information officer of the systems and technology department at India’s Federal Bank. “And many of our non-resident Indian customers around the world find this service extremely useful when transferring funds to their accounts.”
The news is notable as many banks have shuttered their wireless services over the past several years. Bank of Montreal, Citibank and Washington Mutual are just a few that have turned off the service due to lack of interest.
Air2Web said it counts more than 40 financial institutions as customers, including ABN AMRO, ICICI, NetBank, Delta Employees Credit Union, Bank Muscat and others.
