New Delhi: The State Bank of India (SBI) is the biggest bank by volume of SMSes, with 30 per cent of Truecaller users using it, followed by HDFC at 14 per cent and ICICI at 13 percent, a new report claimed on Tuesday.
According to the Truecaller Insights’ report, Axis Bank at 9 per cent and ING Vysya at 8 per cent are at fourth and fifth places respectively.
Global banks such as Citi Bank and Standard Chartered have only about one per cent of the total transaction volume, the report said.
“The data was aggregated anonymously from incoming and outgoing SMS messages to banking services in India during the period of April 1 to September 31 to understand the trends and usage,” Truecaller noted.
“We identified the number series that the banks use when confirming transactions with their customers and the volume of SMS they send to Truecaller users. Truecaller does not read the actual content,” the company added.
When it comes to Delhi, the top five banks are the same but their percentages are quite different:
“The SBI sees a large drop in its volume in Delhi (23 per cent), followed by HDFC (17 per cent), ICICI (15 per cent), ING Vysya (11 per cent) and Axis Bank (9 per cent),” the report claimed.
Both Chennai and Mumbai saw a smaller influence from the SBI and a more equal distribution of volume between five or six of the biggest banks.