Customer Centricity

Focus on Customer 360°

Customer-centricity is core to the Bank’s strategy in growing our business and delivering customer delight. The approach is to take the entire bank to the customer and offer solutions that are holistic in nature and build trust that translates into a long-term relationship with our customers. Delivering on the Customer 360º approach also requires enhancing delivery systems and simplifying processes for better outcomes. The Bank is continuously making efforts to streamline processes and leverage tech-based solutions for more meaningful customer engagement. Underscored by strong governance, controls and risk management, the endeavour of the Bank is to deliver products and services to customers in an appropriate manner.

Customer Service and Grievance Redressal

ICICI Bank’s continuous endeavour is to provide best-inclass services to the customers. It lays strong emphasis on serving customers with transparency and offering suitable banking solutions. The Bank monitors key customer service metrics and complaints through a well-defined framework. The Customer Service Committee of the Board and the Standing Committee on Customer Service (Customer Service Council) meet regularly to review various metrics. These include review of customer service initiatives, oversee the functioning of the Customer Service Council and evolve innovative measures for enhancing the quality of customer service and improvement in the overall satisfaction level of customers. In addition, the Bank complies with the 'Customer Rights Policy' which enshrines the basic rights of customers. These policies are available on the Bank’s website. In its endeavour to provide transparency across its offerings, ICICI Bank continuously keeps educating customers to enable them to make informed choices regarding banking products and services. The Bank also seeks to ensure that the products offered are based on an assessment of the customer’s financial needs. The Bank has a Board-approved Customer Grievance Redressal Policy which outlines the framework for addressing customer grievances. The grievance redressal mechanism is well-defined and comprehensive, with clear turnaround time for providing resolution to customers. A key principle of the grievance redressal mechanism is that all customers are treated fairly without any bias, transparency in customer engagement and timely resolution of the issue and customer education. The Bank provides multiple channels like business centres, voice and digital channels, through which a customer can seek a service or report a complaint. All complaints received by the Bank are recorded in a Customer Relationship Management (CRM) system and tracked for end-to-end resolution. In case a customer is not satisfied with the resolution provided by the channel, there is an escalation process available to the customer and a defined process has been put in place at the Bank for managing escalated complaints. The Bank has an escalation matrix built in the CRM system to ensure that customer requirements are appropriately addressed within stipulated timelines. Detailed Root Cause Analysis (RCAs) of the issues highlighted in customer feedback and complaints are conducted, and insights from the same are implemented to improve the products and processes and enhance the services of the Bank. Further, as recommended by the Reserve Bank of India, senior retired bankers have been appointed as Internal Ombudsmen of the Bank. The Customer Service Committee of the Board, the Standing Committee on Customer Service and the business centre level customer service committees monitor customer service at different levels.

Customer Communication and Response Committee (CCRC)

The Bank has a Customer Communication and Response Committee (CCRC) to contact customers in case of system incidents. CCRC has representation from relevant stakeholder groups within the Bank including customer service, business, channels, technology, corporate brand and communications, risk, credit monitoring, etc. Further, in the event of disruption or a disaster, mechanisms have been put in place to enable customers to contact the Bank. Details are also available on the Bank’s website.

Measuring Customer Satisfaction Levels

The Bank, on a continuous basis, measures the advocacy and satisfaction levels of customers across key products and touchpoints through the Net Promoter Score (NPS). As part of this exercise, the customers’ likelihood to recommend, satisfaction levels with the product/transaction experience and voice of customer (VOC) are measured.

This feedback is analysed and the insights are implemented to improve the products and processes and enhance the services of the Bank. In addition, extensive diagnostic customer research in specific areas are conducted regularly. The focus of the research is to identify areas of improvement in the products and services of the Bank and define appropriate action points.

Customer Education on Safe Banking

The Bank regularly conducts customer awareness campaigns through social media, notifications on mobile apps, e-mails and SMS regarding safe banking, cybersecurity as well as modus operandi of frauds prevalent in society. In addition, the Bank creates awareness using other means like,

• Safe Banking Tips - detailed ‘Do’s and Don’ts’ are updated on the Bank’s website
• Messages along with statement of accounts, physical and online
• Messages printed on Bank’s stationery and inserts in deliverables
• SMS alerts
• Message on phone banking when the customer calls
• Posters at branches and ATMs

The Bank also displays relevant messages at its offices and business centres for customers. During fiscal 2024, the Bank conducted an extensive public awareness campaign on fraud prevention on television and social media which was well-received.