HDFC Bank unveils myApps in a bid to benefit Housing Societies

myApps will be a platform to enable Urban Local Bodies(ULB) including smart-cities and municipalities, housing societies, to digitize their ecosystem.

HDFC Bank recently unveiled myApps, a platform that will enable urban local bodies including Smart-cities and municipalities, housing societies, clubs or gymkhanas, and even religious institutions to completely digitize their ecosystem. The HDFC Bank will offer a customised app as a value-added service in addition to its complete suite of banking products.
Through the app, members can make payments for utilities and fees, make online bookings for various facilities, stay updated on the latest announcements, and utilize a host of other features offered by the institutions. The organization also gets easy access to reports on payments, facilities booked by members, requests and complaints registered. They can also use the app to broadcast notices and engage with members on various events.

Speaking on the launch Smita Bhagat, Country Head, Government & Institutional Business, Start-ups and E-Commerce, HDFC Bank said, “As a lifestyle bank, it is our endeavor to be an integral part of our customers’ daily lives and go beyond providing basic banking services. The myApps suite of products will provide our institutional customers with convenience, flexibility and the extra digital edge they need to ensure they are enhancing their services and further the Digital India mission.” 

The platform is an industry-first as it focuses on segments that have historically been underserved with a specifically tailored suite of solutions to enhance their digital capabilities and make them future-ready.

These apps are a part of the bank’s strategy to take digitization to the next level by focusing on providing value beyond basic banking services and tapping into the B2B2C space. The opportunity is large: 30 lakh places of worship, according to the 2011 Census; 6 – 8 lakh housing societies; 2,000+ clubs; and 500+ cities with a population of more than 1 lakh. Over time the bank will extend this solution to even more segments.

(Source: Zee Biz)