Transcription
Digital StrategySep 11, 2020
Approach360 crossecosystemsLeverageinternalsynergies, buildpartnershipsDecongestprocesses,flexibility tooperate withinthe guardrailsOperating profitaspiration linkedto marketpotential, increasein market share2
Approach to retail bankingMicro market based approachCreate offerings based on ecosystems andexpand distribution as per potentialDigital onboarding and engagementUse power of digital to decongest loanprocess and follow rule based underwritingUse payments technology to buildpartnershipsTo build customer level models foroptimised decision-making3
ICICI STACK for retail customersSOLUTIONSTECHNOLOGY VIEWInstaSave, FDXtra, iWish flexible RDiMobile app/NetbankingACCOUNTS LAYERIMPS, NEFT, RTGSBill Payments, UPI/QR Scan & Pay,wallets, debit card & travel cardPAYMENTS LAYERInsta home loan & top up, Insta credit card,Insta car and TW loan, Insta PL & PayLaterLife, health insurance,home, motor & travel insuranceKid’s education (Insta SIP/PPF)Wealth creation (MF/Demat A/c)Retirement planning (NPS/FD)LOANS LAYERCARE LAYERGROWTH LAYER4
Creating digital journeysReliable, modern and secure platformsiMobileRetail internet banking250 DIY services availablexxxxxxxxDiscover section: spendsone-view, recommendationsWide range of higher engagement productsPersonalised and native dashboard n 1, preapproved loan offers, paperless insta FDRobo-advisory: MoneycoachplatformCardless cash withdrawal atthe ATM90% of savings accounts transactions1,2 done through digital channels31. In Q1-20212. Financial and non-financial transactions3. Includes internet, mobile, POS, touch banking, phone banking and debit cards e-commerce transactions5
Friction less insta productsInvestments 59% SIPs initiated digitally1 63% of fixed deposits sourceddigitally11. In Q1-20212. In FY2020. Based on count ofcustomers. Digital includes instaand digitally sourced customerswith physical KYCLoans Instant credit card issuance andpersonal loan disbursement forpre-approved customers Instant sanction for auto andhome loans and instantdisbursement of top up loans toexisting home loan customersPayLater Instant, digital, small credit lineupto 20,000 Seamless checkout, easyrepayment BHIM UPI 2.0 technologyleveraged for making payments 44% credit cards and 61%personal loans sourced throughdigital channels26
Building partnershipsCo-branded credit cardsMobile wallets Providing frictionless on-boarding experiencewith instant credit card generation During Q1-2021, Swiggy used ICICI Bank’s “instawallet” offering to launch its digital wallet. Leveraging artificial intelligence & machinelearning with partners to enhance customerexperience Through this tie-up, Swiggy customers can storemoney, use funds for all food orders, top-up theirwallets and avail instant refunds7
Recent initiativesVideo KYC To on board salary account,personal loan and Amazon PayCredit Card customers Whole process is digital via avideo call, frictionless, fast andzero physical contactWhatsApp Banking1 million usersiPal chatbot integrated withAlexa/Google HomeIntegrated the AI poweredmulti-channel chatbot,iPal, with Alexa/GoogleHome to allow customersto fulfill banking serviceswith a voice command8
SME and business banking strategySegmentationProduct Micro market based Customer profile andrisk categorisation Industry specific customisedsolutions12Digitalas forcemultiplierDistribution Investment in distributionaligned to current accountdeposit Skill and capacity building Market, customer andemployee insights basedproduct innovationPartnership43 Collaboration with fintechs:on-boarding, payments,lending, cross border Ecosystem led approach tocapture money-in-motion9
ICICI STACK for business banking customersSOLUTIONSTECHNOLOGY VIEWOnline CA, APIDeveloper Portal, InstaBIZACCOUNTS LAYERVendor & tax paymentsEazyPay: POS/UPI QR/ Payment GatewayIntegration with accounting/ERP platformImport/Export portal & real time dashboardPAYMENTS LAYERInsta OD/GST OD, purpose based lending,Super Biz- Flexi Credit, supply chain lendingLOANS LAYERFire & burglary insurance, marine insurancegroup health & personal accident cover keyman insuranceCARE LAYERBiz circle: network with vendors & suppliers,set-up promotional campaigns, wealthcreation (MF/FD)GROWTH LAYER10
Platforms offering seamless servicesInstaBIZAPI1 Banking PortalOnline account openingInstant overdraftSeamless vendor paymentsand bank reconciliationEasy collection via multiplemodesOnline foreign tradetransactions1. Application Programme InterfaceEnabling partners to integratevarious payment and productsolutions in few days; APIsavailable across an arrays ofcategories including payments &collections11
Trade solutionsTrade online1. EEFC: Exchange Earner's Foreign Currency12
Digital payment solutionsUPI1 merchant acquiringand toll collectionsCASACrossSellUPIRicherDataAcquireMarket share of 28% in UPIP2M2 transactions in JuneICICI Bank was the first bankto launch and implement aninter-operable Electronic TollCollection (ETC) platform onnational highwaysPioneer in FASTag3 program byonboarding state highwaysMarket leader with shareof 38% by value in July 202042020; ranked 2nd in theindustry 41.2.3.4.United Payment InterfacePayments to merchantsElectronic toll collection systemSource: National Payments Corporation of India13
Digital financial supply chainDiverse corporate needsSupply chainsolutions1MultiplepaymentmethodsOne stopsolutionSAP Integrated solution1Automatic integration with corporates’ ERPDistributorsSuppliersAPI based seamless automationFasteraccess tofinance2Real timerealisationNon-ERP integrated digital modelDealer level solution for corporatesDistributorsSuppliersUpstream and downstream journeyValue delivered to corporateSeamlessbankingexperienceDigital andpaperless1. Partnership with SAP Technologies and ArteriaIntelligentreportingBetter riskcontrolReducedworkingcapital14
Engagement with partnersCo-create products with partners to drive transformation aligned with ICICIBank’s digital roadmap InnovationprojectsInitiativesInvestments1 Interaction of partners, business groups and technology groups2 Equity investment into high growth and disruptive fintech startups3 Active engagement with startups4 Experiment with internal team of techno-preneurs15
Thank you
Building partnerships 7 Co-branded credit cards Providing frictionless on-boarding experience with instant credit card generation Leveraging artificial intelligence & machine learning with partners to enhance customer experience During Q1-2021, Swiggy used ICICI Bank's "insta wallet" offering to launch its digital wallet.
