ATM moment of banking services is here as lenders make apps open for all

What do banks gain by opening their apps for all? The answer - rival bank's customers under their fold.

Long after automated teller machines (ATM) were made interoperable for bank customers, the whole gamut of banking is becoming membership agnostic. 
 
Earlier this week, ICICI Bank created some buzz by announcing its banking app — iMobile Pay — would be free for all to use. A customer need not be with the bank but can link her bank account with a Unified Payments Interface (UPI) ID with ICICI Bank and start using it for all kinds of payments across all platforms. Much like how Google Pay is being used for paying bills and purchases through UPI.
 
iMobile Pay