KMB is India's first bank to achieve this distinction, which encourages cashless transactions by enabling customers to transfer up to Rs 2,500 per day and at a time, it said.
The process of funds transfer is simple and totally secure as the transaction can only be initiated from the customer's registered mobile number, KMB said in a release.
Furthermore, the customer will get a confirmatory SMS on the registered mobile number, which is encrypted, and hence cannot be tampered with, it said.
Customers can manage their bank accounts and also use the app for a range of services, including recharging mobile and DTH services, linking Aadhaar number to the bank account, finding Kotak ATMs and branches, applying for Pradhan Mantri Suraksha Bima Yojana (life insurance)/Pradhan Mantri Jeevan Jyoti Bima Yojana (accident insurance) schemes, it said.