ICICI Bank 2016 Annual Report Download - page 81

79Annual Report 2015-2016
For the Bank, communication is an important tool to stay connected with its customers. The Bank realises that customers
interact with it through multiple channels, leading to the possibility of inconsistent communication. This leads to
a poor customer experience. To address this challenge, the Bank has invested in building an omni-channel real-time
communication architecture. This architecture is integrated with all its channels like call centre, emails, SMS, internet
banking, ATM, social media and branch.
This year, the Bank also launched the Smart Vault, a fully automated state-of-the-art locker service available 24x7. The
Smart Vault uses robotic technology to enable access to the lockers from the safe vault. Customers can conveniently
access their lockers at any time of the day, in the comfort of a secure lounge where the locker automatically comes up
to the customer. The Smart Vault is equipped with multi-layered state-of-the-art security systems including biometric
authentication. The launch of the Smart Vault marks a milestone in the Indian banking industry as it joins a select group
of overseas markets which has access to this unique robotic vault. This innovation is an exemplary illustration of the
potential of ‘Make in India’, as it has been designed and manufactured by Indian partners.
Keeping in mind customer convenience, ICICI Bank launched Money2World, a fully online outward remittance service for
resident Indians. This service is available even to non-account holders of ICICI Bank. Individuals can now transfer money
online from any bank account in India to any bank account overseas in 16 major currencies, in a convenient and fully
secure manner.
In scal 2016, ICICI Bank became the rst private sector bank in the country to have a mortgage portfolio of more than
` 1 trillion. To commemorate the achievement, the Bank announced two breakthrough initiatives in India. Express Home
Loans is the country’s rst fully online process for sanctioning home loans. This service provides online approval for
home loans within eight working hours. The second initiative helps individuals taking home loans for under construction
projects to get subsequent disbursements, after the rst disbursement. Through iMobile, customers can upload the
demand letter from the builder and the proof of their contribution. The Bank assesses the demand and makes the
disbursement without the borrower having to visit the branch, thereby saving time and enhancing convenience for the
customers.
ICICI Bank also launched its new range of co-branded credit cards in association with the Italian luxury sports car
manufacturer, Ferrari. The Ferrari Credit Cards by ICICI Bank have been specially designed for discerning customers, who
are enthusiasts of the iconic luxury brand.
The Bank expanded its network to 4,450 branches and 13,766 ATMs at March 31, 2016. The Bank’s automation footprint
has also multiplied. At March 31, 2016, the Bank had 110 Touch Banking branches across 33 cities. The Bank has also
deployed more than 1,300 self-service kiosks for accepting cash, where anyone including non-customers of the Bank can
deposit cash in an ICICI Bank account in a completely automated manner with the account receiving instant credit, rather
than manually depositing cash at the teller counter. The Bank has also deployed 516 Insta Banking self-service kiosks at
its branches. Customers can access these kiosks by typing their debit card number and PIN number. These self-service
kiosks enable the customers to pre-process their transactions, reducing their waiting time at the branch.
These initiatives in terms of network expansion as well as technological upgrades for enhanced customer experience
have helped the Bank to achieve robust growth in its retail business. The Bank’s savings account deposits grew by 16.9%
to ` 1,342.30 billion at March 31, 2016. The Bank’s retail loan portfolio (including business banking and rural banking)
grew by 23.3% year-on-year at March 31, 2016 and constituted 46.6% of total loans.
Rural and Inclusive Banking Group
The Indian rural market presents signicant growth opportunities as the market adapts to rapidly growing mobile
connectivity and access to formal nancial services. The Bank’s rural strategy is focused on leveraging these trends and
building a sustainable model for extending nancial services to rural customers. This is being made possible by offering
them a comprehensive product suite backed by technology. The Bank has set up a robust distribution network over the
last few years to reach customers in this market. At March 31, 2016, the Bank had 2,293 branches in rural and semi-urban