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Thursday, September 24, 2015

Silos of Grid security authentication ICICI Bank

Today I am a very disappointed 6-yr customer with ICICI Bank ICICI Bank - Security systems ! Since last night I was trying to make a online transaction to another account and The transaction could not be completed due to the unavailability of the debit card grid value. Day by day technologies grow We use Net banking Mobile banking etc. Even ICICI proudly says cardless cash withdrawals.


Since my debit card has become too old and damaged I have applied for a new one and its under process. Meanwhile if I wish to do a online transaction the ICICI Bank states that
I could not proceed because grid authentication is mandate. Its good that they have implemented a extra layer of security but that security system should not be a grief to customers transaction.This would not be a better option in a longer run. When a customer applied a new card they are unlinking the old card from the account so they can enable the other security options like OTP as an alternate and by not mandating both are required.  I hope even the Head of the ICICI would not prefer to use their banking facilities if they face this kind of issues. In a crucial situations to pay your bills the customer care executives are responding that without a grid value we cant help you to proceed is really frustrating they are not not thinking in the lines of a customer or go an extra mile to check what best can be done. When they link the customer's mobile number they can make that as primary and the grid option as secondary if customer further opts during transactions. What are the plan B options if a disaster occurs ??

The customer should be helpless till he receives a new card again. If they comply to various regulatory laws I'm sure they will be aware what BO  states.

The grid authentication was first introduced to avoid cyber crooks in credit card transactions. This may work for credit cards but linking this to internet banking and debit card will be a failing factor. However there should be certain measures to be taken by ICICI to provide a Plan B for continuing the services without interruption by authenticating them by other security parameters.

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