ICICI Bank 2014 Annual Report Download - page 56

54
Business Overview
54
INFORMATION TECHNOLOGY
Technology continues to be a strong pillar in the Bank’s initiatives towards enhancing the banking
experience of its customers. In line with the key trends which are shaping technology today, the Bank
has rolled out various initiatives leveraging mobility, digitisation and innovations in payments technology.
The Bank has deployed mobility in the form of Tab Banking to minimise physical documents and improve
efficiency in opening of new deposit accounts. This is done through the use of digital application forms,
scanning of KYC documents and clicking photographs of the customer on the tablets, thus facilitating
a faster and more convenient account opening process. A large part of the mortgage process has also
been moved to tablets, thereby empowering the field force with all relevant information. This has also
enabled the Bank to quickly process applications and sanction the loan faster. The Bank also continued
to maintain its leadership position in mobile offerings for its retail customers by adding more features on
the mobile application. The Money2India (M2I) service, the Bank’s online remittance solution, is now also
available as a mobile app across all platforms. This app allows customers to track exchange rates and
initiate remittance transactions.
During fiscal 2014, the Bank continued to empower its customers to leverage technology through usage
of self-service devices. The Bank extended its Touch Banking network to 101 branches. Further, the self-
service theme has been extended through the launch of Insta Banking kiosks in select branches. These
devices which operate on an internally developed application, support many end-to-end transactions as
well as help the customer to pre-process certain frequent transactions. These kiosks reduce the waiting
time of the customers in the branches. The kiosks provide real-time customer information for different
products and are integrated with our core banking applications. The Bank continues to monitor the usage
pattern to understand customer behaviour so that it can offer improved solutions.
The Bank has focused on leveraging technology for payments solutions by partnering with institutions
and government customers having a high customer base and large transaction volumes. ICICI Bank
is the first bank to have launched comprehensive banking solutions for online tendering, supporting
multiple payment modes and straddling various electronic collection and payment products. The Bank
has implemented one such large scale project for the Government of Karnataka. The Government Internet
Banking (GIB) platform is a unique solution for governments which offers a single window platform for
facilitating both collections and payments of government entities. It allows multi-level disbursements
and is available with multilingual capability across various devices. A related offering is Aadhar-based
disbursements under the Central Plan Scheme Monitoring System of the Government, facilitated through
the Bank’s technology systems. Trade Online, the Bank’s comprehensive platform for trade products, has
been enriched through digitisation along with enabling of access to correspondent banks. The service
has also been extended to some of the overseas branches of the Bank. The Corporate Internet Banking
(CIB) platform has also been enhanced with features such as bulk tax payments, financial supply chain for
dealer and vendor financing and providing customers an aggregated view of their accounts across banks.
The Bank has launched iBizz, a versatile mobile app for current account customers, which enables them
to access their accounts and execute transactions.
The Bank continues to make investments to ensure robust infrastructure for its IT platforms and towards
the same, has migrated some of its key technology systems to newer versions or platforms. The
governance framework for information technology in the Bank has also been further strengthened to
ensure appropriate risk management and oversight for the technology function.