ICICI Bank - Money2India Europe

ICICI chooses [verify-U]face-to-face for online identification across Europe

Biggest private bank of India selects Cybits’ solution to support Money2India service

Mainz-Kastel, February 05 2015:  ICICI, the biggest private bank in India, is the first globally operating bank that decided to use Cybits’ new online video-identification [verify-U]face-to-face. The Frankfurt branch of ICICI UK performs the Money2India service across 17 countries of the Euro zone where user can be identified online now by using [verify-U]f2f. “We are pleased to offer a convenient and innovative solution to our customers. We believe that this service will further enhance the experience for our customers. Our Money2India.eu platform is an efficient and convenient platform for the Non Resident Indian population in Europe to send money to their loved ones in India”, commented Mr. Sudhir Dole, Managing Director & CEO of ICICI Bank UK PLC on the launch.

Stefan Pattberg, CEO of Cybits, is very pleased to have won such a global player and expresses the future challenge for [verify-U] to be compliant with all national Anti-Money-Regulations across Europe. “Our portfolio of online identification solutions addresses almost all national legislations and regulations that are based on the European directive and gives much more certainty to our business customers to be compliant with whatever regulators make ask for.”

The CTO of Cybits, Volker Neiß, explained that “[verify-U]face-to-face is available in German and English now and other languages will follow. We offer this service 16 hours a day and 7 days a week. Every user can choose its preferred video solution, either our own Cybits’ video call which is end-to-end encrypted and starts directly out of the browser or any of the leading video apps like Skype, Facetime or Hangouts. Our business partners have always the certainty that [verify-U] offers the biggest reach in the market and the highest comfort for our users.”

 

About ICICI Bank UK PLC, Frankfurt Branch

ICICI Bank UK PLC is a wholly owned subsidiary of ICICI Bank Ltd., India. ICICI Bank UK PLC is authorized by the Prudential Regulation Authority (PRA), and regulated by the Financial Conduct Authority (FCA) and PRA. ICICI Bank UK PLC, Frankfurt Branch is also regulated by the German Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin) and a member of the Association of German Banks (Bundesverband deutscher Banken – BdB). Since February 28, 2008 ICICI Bank UK PLC has been active in the German retail market. It is also focusing on corporate clients with close links between Europe and India.