ICICI Smart Vault Features and advantages

ICICI Bank had introduced a unique locker facility in India fueled by robotic technology. Known as the “Smart Vault”, this new facility was formally introduced by the MD & CEO of the ICICI Bank, Chanda Kochhar at the Defense Colony branch, New Delhi.

To begin with, this fresh, cutting edge facility of the locker has been accessible only at the branch of Defense Colony that additionally gives services of Wealth Management. At present, there’re 500 lockers introduced in this branch, and relying upon the use, more branches of ICICI would be empowered to have this facility.



The Bank declined to share the details of the price of this novel locker facility, however, according to the CEO, there will be 3 distinct arrangements as indicated by the extent of that locker, and contrasted with the conventional locker facilities, this service will charge more.


Notable Features and advantages of the ‘Smart Vault’

Clients can get to their lockers 24X7 i.e. 7 days of a week.

The Smart Vault utilizes robotic innovation to engage the client to get to their lockers, with no human interface.

Rather than client going to an encased lobby or a large room to get to their lockers with their keys, Smart Vault makes the client get to their lockers from a protected lounge, while serenely giving their entrée details. Utilizing robotic innovation, the locker makes itself available to the client after verification.

Henceforth, the client can get to their locker in absolute security, with no intercession of bank representatives. This brilliant vault is controlled with the multi-layered safety framework which has been depicted as ‘cutting edge’.

The framework incorporates biometric verification as well as Debit card and PIN check prior to giving access. This Vault has innovative dimple key procedure that makes replication practically inconceivable. Other than the unbreakable lock-framework of ICICI Bank, the client can pick their own individual lock too.

To guarantee the security of the framework, this Vault will possess a biometric alert system, wherein an immediate phone line to the main team of security is given to foil any endeavour to open the lock without consent

Each time this smart locker is used, the clients will receive alert SMS

24X7 video footages of the location as well as CCTV surveillance


Make in India & Digital India Into One

The use of hi-tech robotic technology to present the facility of the locker is an immediate alliance with the PM Modi’s mission of Digital India, wherein innovation and computerized platform are utilized to serve the general public in an improved way.

The robotic framework for lockers is designed by the Precision Automation & Robotics, Pune, a startup that was given seed-finance by the ICICI Bank in the middle of 1990s. The vision of ‘Make in India’ is being actualized by picking an Indian organization for such progressed, cutting edge framework that has never been introduced in India.

In a public statement, Chanda stated, “We’re particularly glad for this Smart Vault as it has been equally designed as well as produced by the Indian accomplices, and is a good example of the Make in India mission.”

With the new robotic technology fueled locker service, ICICI Bank successfully expanded the space between its rivals, and presented another worldview of the banking services.

When inside, the client requires swiping his or her debit card and entering his or her PIN number on the touch screen to choose the locker he or she needs to access. The automated arm in the sheltered vault room then recognizes, recovers and introduces the particular locker of the client.

The client will now need to utilize his or her exclusive dimple keys in order to open the locker and withdraw or deposit assets from his/her locker. Once the exchange closes, the automated arm withdraws that locker back again to its secured area. This ‘Smart Vault’ in this way empowers clients to access the locker at an advantageous height, removing the need to climb a stepping stool or twist low as required in the regular lockers.


ICICI Smart Vault Features and advantages ICICI Smart Vault Features and advantages Reviewed by Chai With Sutta on April 19, 2019 Rating: 5
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