ICICI Bank launches ‘Smart Vault’


New Delhi : ICICI Bank launched 'Smart Vault', a first-of-its-kind locker facility by a bank in India with latest robotic technology on Tuesday. The 'Smart Vault' uses robotic technology to access the lockers from the safe vault and enables customers to conveniently access their lockers at any time of their preference, in the comfort of a secure lounge where the locker automatically comes up to the customer. This initiative was launched by Chanda Kochhar, MD & CEO, ICICI Bank, at the Defence Colony branch in the capital.
Speaking to reporters on the occasion, Kochhar said that 'Smart Vault' has been both designed and manufactured by Indian partners and is an example of 'Make in India'."In fact, ICICI Limited had (in 1990) provided seed funding to the company that has designed the robotic arm," Kochhar said. According to sources, Pune -based Precision Automation & Robotics India Ltd has designed the robotic arm.
Kochhar also said that the latest digital initiative is in sync with changing customer profile as 'digitisation' and 'social media' plays increasingly important roles in their lives.The launch of the 'Smart Vault' marks a milestone in the Indian banking industry as it joins a select group of overseas markets which have access to this unique vault with the latest robotic technology and high-end security.