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July 17, 2014

A Date with Social Banking: I explored JIFI did you?

Oh My God! Banking is Social...

Banking has always been a social thing, what's the big deal about it?

Yes, the yellow ball with fancy headphones is absolutely right! Social people do things like Banking, which makes it a social thing automatically...So what is this fuss about? 

"Yenna Rascala Mind it! If you dunno what social banking is, go find it!"

Oh! That's Fraud..Oops Sorry Frog Dada and he thinks that he knows everything under this blue sky..Don't bother...Ignore him...

"Yenna you can't ignore me...I'll tell you what social banking means, before you bore me...Ahem, Ahem, I would like to explain it with my latest Haiku Creation"

Social Banking Haiku
Facebook, twitter, LinkedIn & sky
have something in common मेरे भाई 
They are blue & social too

Explore Banking via Social Networking 

So, Banking is Social means different aspects of banking can be explored through social media platforms as well. No wonders for the modern world, where social networking websites are turning integral party of not only human mind but human body too...!

Marriages have been social events till now…But soon, they are going to be SOCIAL NETWORKING events. Imagine...Brides and grooms vowing over social media "मैं अपने social media account और इसके सारे updates को साक्षी मानकर तुम्हे अपना life partner मानती/मानता हूँ"

And the Pundit will have only these words to say, "You may now update your relationship status to Married"

In such Scenario, seeing banks go Social is not an unexpected thing... But, how do they do it, is always  a matter of interest and concern for the banking users. Kotak Jifi- World's first socially powered bank account has given us all this opportunity to find all the answers that we have in the name of social banking...

As I got to know about Jifi, I was Excited+Worried. Excited because I wanted to explore this new dimension of banking, but Worried because as of now, I don't have any bank account with Kotak and in fact, don't have additional funds to open one either... But, then I saw this:

And I started....

It is social networking arena of banking, so signing up was easy with my Facebook account and as I logged in, I was welcomed with 100 Social Points, However, I still had to find out that what do I do with these points, but anyways, the beginning was awesome...

Once I was here, there was a lot to explore..Notifications, Dashboard, Managing points and multiple other tabs...But, thankfully, everything was well-organized for me to explore...

As I explored further through each tab...One Super Exciting thing that I discovered was- Rewards & rewards & rewards... Yes, they let you earn reward points at each step, for everything you do...Following types of points you earn...

Social Points
Transaction Points
Trade Points

And, you can use these points in different ways...for getting shopping vouchers, for helping a friend via trading and a lot more...Social points are really easy to earn..While I was checking out different tabs and filling up application forms...I added more to my social points bag...See...

Exploring Apply Now Section...Trust me, It is not at all the lengthy form filling process...

And I got the unique link to invite my friends...

Without wasting a single moment, I shared it for the benefits of my social friends...

And, I didn't want to miss the chance of inviting my friends to try out something new in banking...I wish they explore it once...

And when I returned back to dashboard, after all this, What I noticed was...Addition in my social points...Now the question was what to do with these Social Points...and that's when I found this convert button..I could convert my existing Social Points into transaction points...Wow!

Just out of curiosity...I explored what exactly these points can do for me... and that's what I discovered...

Aah! How I wish I can earn more points soon and grab some amazing deals. Meanwhile I was filling up application form for Kotak Social Bank Account and these guys have made it simpler. They fetch half of the information from your account and help you review form as many time as you want and choose to fill it later too...

Kotak JIFI at a Glance

The Socially Powered Bank Account is loaded with three major dimensions of features:

1. Social Circle

2. Earning Reward Points

3. Socially Powered Banking

I pronounce it like jiffy and there's no doubt that it makes the daunting task of banking simpler and less time taking. Banking can be done  through it in a jiffy and may be that's why they call it JIFI. 

Anyways...Here is the Good vs Bad Analysis

The Good

It is very easy to log in and earn points
You can convert social points for transaction
You can trade with your friends via these points
You can earn amazing discount
It is free to use
You can download the mobile app too
It is easy to get access to all the benefits associated with JIFI
To earn these benefits, you don't necessarily need to have a bank account with Kotak

The Bad

While exploring this, I was wondering how would JIFI people deal with the FAKE social media accounts. There are plenty of fake facebook and twitter accounts with weird names, what is they start exploring JIFI?

Similar kind of thing came into my mind while I was inviting my facebook friends...What if somebody invites fake people to earn reward points? What if somebody makes a fake account with my name or any other name and joins JIFI...Well, then how safe the idea of socially powered banking remains?

And what if I forget to logout from my Socially Powered Bank Account by any chance? Will that be a threat for my reward points or added funds?

I am sure team JIFI has some solutions ready for my concerns...Waiting for these doubts to be cleared soon, so that I can dive in the blue world of social media banking...With Mr. Frog!

Am I missing something? I must have because there's a lot to explore and too less I could do in few of my trials. But, I have my account ready and I am sure I will keep exploring more of this brand new style of banking. Meanwhile, you can watch this video and feed your mind with more knowledge...

This post is my official entry for Explore JIFI Contest organized by indiblogger in association with Kotak JIFI. And by the way... #JiFiIsHere


  1. very nice blog...keep in touch...Please join my blog- The Pink Dewdrops

  2. Hey, I absolute love the theme and colors on ur blog..kick ass. Enjoyed reading social bank and it's delightful:)

  3. Hello Priyanka,
    Congrats on Winning :-)
    All the best and Happy Blogging!!


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