ICICI Bank has adopted a 360° approach to meet evolving needs of its customers by decongesting its processes, re-orienting its technologies and making its HR practices more agile. Named ‘Customer 360°’, the objective of this multi-dimensional approach is to bring the entire Bank to the customer and offer solutions to them as well as their ecosystems as per their requirements.
We have products and services to meet banking requirements of an individual customer at every life stage. Likewise, we offer a complete suite of financial products to the entire ecosystem of a corporate or an institution comprising employees, dealers and vendors. We strive to become the primary banking service provider to each of our customers – individuals, institutions or corporates.
We leverage our network of business centres, digital channels, partnerships and presence across various ecosystems to expand our customer base. Our ecosystem branches house multi-functional teams required to nurture relationships and bring the entire bouquet of services of the Bank to the corporates and their ecosystems.
The foundation of the Bank’s customer-centric and service-oriented approach has been to develop a granular profiling of markets through analytics, market intelligence and creating an efficient distribution and resource allocation to identify opportunities across the country.
The three main pillars of ‘Customer 360°’ are Process Decongestion, Bank to BankTech and HR Measures.
Process Decongestion
Improving operational efficiencies through digitised processes and removing redundancies has helped the Bank to reduce its response time for customers. We continue to focus on reimagining processes to deliver customer delight and enhance advocacy. We are leveraging the power of subtraction in our service delivery framework through simplification, decongestion, abolition of non-value adding processes, and digitisation of customer journeys and processes. ‘Less is more’ is our mantra.
Through initiatives such as iLens (end-to-end loan journey platform), onboarding of digital current account using Video KYC, single enterprise level CRM platform and Virtual Relationship Manager (VRM) platform among others, we have improved the servicing experience for customers. New-age technologies and platforms such as TradeIntelli, Neo Remittance System, next-gen phone banking experience and digitisation of card life cycle are empowering the Bank to serve customers with simplicity.
We have taken several initiatives like digitisation of the entire underwriting process with instant loan approvals to provide better convenience and smooth experience to our customers. Our growth in the deposit franchise is supported by our continued efforts to strengthen digital platforms and to simplify various processes to provide a seamless banking experience to customers.
The Bank has empowered frontline teams to identify and leverage local opportunities. We have also reduced the layers of management. The objective of the combined approach is to make the operating teams more flexible and agile in order to offer improved services to customers while operating within the guardrails of compliance and risk.
Bank to BankTech
As the Bank is transforming itself from Bank to BankTech, technology is assuming an integral role in its business strategy. Our digital platforms – iMobile Pay, iLens, InstaBIZ and Trade Online – provide end-to-end seamless digital journeys, personalised solutions and value-added services to customers and enable more data-driven cross-sell and up-sell. iMobile Pay and InstaBIZ also have open architecture, enabling customers of other banks to onboard seamlessly. We continue to enhance our cybersecurity and invest in technology to improve our offerings to customers.
We have enabled efficiency across business and operational functions by adopting intelligent automation platforms including robotic processes. They have reduced our turnaround time, and increased our capacity for handling transaction volumes and customer requirements.
HR Measures
We have taken steps to organise and structure teams in a way to facilitate Customer 360°. We invest in our employees to prepare them to take up challenging assignments and responsibilities early in their career, and not restrict themselves to specific areas. This helps them to learn and develop expertise in different domains through job rotations and moving across roles. The Bank continues to invest in capability building through in-house functional academies, industry academia initiatives as well as specialised programmes.
We have created cross-functional teams to tap into key customer and market segments across ecosystems, enabling 360° coverage of customers. We enable ‘Customer 360°’ by working as one team across various departments of the Bank by bringing together the strength and expertise of our employees.
We have placed strong emphasis on ethics and integrity as core values. We live the trust – the most important currency – by giving the best solutions to our customers. We expect all our employees to act in accordance with the highest professional and ethical standards.
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