Customer Centricity
Being one of the most trusted providers of financial services in the country, we feel more driven to deliver value for our customers and fulfil their needs. Customer centricity is at the heart of our strategic approach. We always strive to enhance customer experience across the customer lifecycle through decongested delivery, zero or low-touch operations and enhanced engagement.
In fiscal 2022, the Bank further progressed on its transition from a culture of customer satisfaction to a culture of customer delight and advocacy. The philosophy of “Fair to Customer, Fair to Bank” was emphasised to drive mutually beneficial customer relationships. With the objective of pushing the boundaries of customer experience, end-to-end customer journeys across products, processes and channels were mapped and based on the insights gathered from Net Promoter Score (NPS), Voice of Customer and Root Cause Analysis, key customer service initiatives were implemented.
The Bank’s value propositions for customers and the endeavour to create a positive customer experience have led to a sustained improvement in the Bank’s Net Promoter Score (NPS) across products and services, a key metric for measuring customer advocacy. The Bank also ensures continuous engagement with its customers through multiple channels including branch employees, surveys, social media and channels for raising queries and grievances.
To read more on key initiatives taken in fiscal 2022, refer page 31 of ICICI Bank’s Annual Report
Customer Service and Grievance Redressal
ICICI Bank has a robust complaint handling mechanism for employees and customers. The mechanisms are defined as per Board-approved policies and is governed through Board oversight and reporting. We comply with “Customer Rights Policy” which enshrines the basic rights of our customers. These rights include Right to Fair Treatment; Right to Transparency, Fair and Honest Dealing; Right to Suitability; Right to Privacy; Right to Grievance Redressal and Compensation. These policies can be accessed on the Bank’s website.
We provide multiple channels for customers to complain including the branch, call centre and digital channels. Our grievance redressal mechanism specifies clear turnaround times for resolving customers' grievances. All complaints received are recorded in a Customer Relationship Management (CRM) system and tracked for end-to-end resolution. We have an escalation matrix built in the CRM system to ensure that customer requirements are appropriately addressed within stipulated timelines. Further, we have appointed senior retired bankers as the Internal Ombudsman of the Bank. The Customer Service Committee of the Board, the Standing Committee on Customer Service and the Branch Level Customer Service Committees are responsible for monitoring customer service at different levels.
We have observed a decline in the number of complaints received from customers for this reporting period. In addition, we resolved 98% of customer complaints/ consumer cases during fiscal 2022. We are committed to keeping the customer at the core of all our initiatives and continue to achieve higher level of higher customer satisfaction and thereby forging a long-term relationship with them.
