ICICI Bank: Digitizing the Card Customer Lifecycle

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29 March 2023

Celent Model Bank of the Year 2023, Part 1


Celent is awarding ICICI Bank with the Model Bank of the Year award in consideration of its many concurrent technology-driven initiatives implemented over the past two years. In this case study, we look at a portfolio of three credit card-related initiatives. Each improves ICICI Bank’s credit card customer user experience across the customer lifecycle and has led to a reduction in manual intervention resulting in a lower cost-to-serve.

The first two initiatives simplify and automate customer onboarding, while the third improves servicing efficiency and effectiveness.

  • Contactless onboarding implemented paperless sourcing and faster issuance of credit cards, leveraging an enterprise-wide approach to identity verification utilized across products. The comprehensive onboarding experience redesign supports both customer self-service and assisted service use cases. The specific initiatives were: Frictionless Contactless Onboarding and Customer Experience – focused on assisted-service use cases involving sales representatives, and, Contactless Journey for Credit Cards-Video KYC – focused on the digital self-service use case.
  • Automation to Intelligent Automation advanced ICICI Bank’s goal of subtraction by driving straight-through processing of credit card customer service requests.

All three initiatives manifest the bank’s commitment to the concept of “subtraction.” The initiatives result from a meticulous assessment of customer journeys and process workflow throughout the bank. Credit card customer journeys were among the first initiatives chosen for implementation.

This is one of two case studies supporting ICICI Bank’s 2023 Model Bank of the Year award. The other case study documents the bank’s innovation in trade finance, ICICI Bank Trade Services: From Complexity to Simplicity.