Perhaps we are living in an age where this doesn't seem apt. Banks are venturing into providing other services too such as offering concierge type services including car rentals and travel arrangements. Few banks are building their internal capabilities while few banks tie up themselves with upcoming start-ups. Routes to developing new ways of banking are novel and diverse, but share a common goal of bringing news ideas to fruition quickly. Speed to market is critical in meeting the rapidly evolving needs of customers, defending increasing competitive pressure and managing specific challenges of banking in emerging and rapid-growth markets. To ensure customers stay glued to them, Banks must be active on social media. Kotak Mahindra, India's fourth-largest private sector bank, has launched Jifi, a bank account that integrates social media platforms.