ING Vyasa’s new mobile banking solution gaining traction in India: ING survey

The new mobile banking app Jiyo Easy, which was launched recently in India by ING Vysya Bank in collaboration with IBM, is gaining traction, according to an online survey by ING Vysya Bank in liaison with ING International Survey (IIS), London.

The new mobile banking app Jiyo Easy, which was launched recently in India by ING Vysya Bank in collaboration with IBM, is gaining traction, according to an online survey by ING Vysya Bank in liaison with ING International Survey (IIS), London.

Since its launch, the app had 38,000 downloads and 28,000 users signing it.

The online survey, which involved 2,500 respondents, found that 50% of respondents aged between 18-34 years preferred using mobile banking applications over desktops or laptops for accessing bank accounts.

Most of those customers used mobile banking application to check balances, transfer funds and check last few transactions.

ING Vysya Bank branch banking, marketing and private clients country head, Brett Morgan, was quoted by The Hindu Business Line as saying that this faster pace of mobile app downloads and users are mainly from emerging cities so far and not from major metros.

"Non-tier I cities are witnessing faster pace of mobile ownership due to Android-based smart phone prices dropping," Morgan added.

The survey also found that 81.75% of male participants had more control of their money since using mobile phone banking.