Professional Documents
Culture Documents
Crmaticicibank
Crmaticicibank
2009
Submitted by
This report is submitted in partial fulfillment of MBA Program of ICFAI Business School. We
would like to express our sincerest gratitude to Prof Suresh Chandra Bihari for his continued
guidance, encouragement and valued insights that have made this exercise exciting and an
extremely useful learning experience.
Introduction
Emphasizing on the importance of CRM one of the ICICI employees said, “With the overall
improvement in the ETL1 process made possible by PowerCenter, we benefited from greater
data
immediacy for business users and more reliable information, which resulted in quicker
analysis
and timely reporting.”
—Gurnam Saini, Assistant General Manager, ICICI Bank
CRM at ICICI Bank involves increased communication between the bank and its present and
prospective customers. Its philosophy focuses on each and every customer’s satisfaction.
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Extraction, Transformation & Loading
5 | CRM Practices in new generation Private Banks: A Case of ICICI Bank
ICICI in valuation of its customers to understand customer profitability and Customer
Life Time Value (CLV).
Develop and customize: - In a customer centric business environment, the products
-
and
processes have to be according to customers’ needs and preferences. ICICI has
always
focused on developing channels of service delivery according to customers’ need and
service expectation.
-
Interact and Deliver: To foster a strong customer relationship ICICI ensured that all
areas of the bank have easy access to relevant, actionable customer information and
employees should be trained on how to use customer information to tailor
interactions
based on both customer needs and potential customer value.
- Acquire and Retain: CRM helped ICICI to figure out valuable customers and made it
easy to formulate retention strategies for them. It also helped it cope up with the
change
in customer’s life cycle and offer services accordingly.
Business Focus: There are various components of CRM like customer information, sales,
marketing trends and marketing efficacy that acted in tandem to improve relationship
between
ICICI and its consumers. ICICI captured customer data and analyzed them while dealing with
customers at these very touch points. A CRM solution from Siebel was implemented for the
automation of customer handling in all key retail products of the Group. The solution allows
customer service agents to track all customer complaints and requests. It also allows target
setting and centralized tracking of turnaround times for request fulfillment. The solution
went
live in phases during fiscal 2002. The Bank has also undertaken a retail data warehouse
initiative
to achieve customer integration at the back-office. This central view of the total customer
relationship is being used extensively for identifying opportunities to cross-sell new products
and
services to the existing customer base.
Technology Focus: ICICI Bank continues to leverage ICT 2 as a strategic tool for its business
operations to gain competitive advantage. Its technology strategy emphasizes enhanced
level of
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Information and Communication Technology
6 | CRM Practices in new generation Private Banks: A Case of ICICI Bank
customer services through 24x7 availability, multi-channel banking and straight through
processing, and cost efficiency through optimal use of electronic channels, wider and
focused
market reach and opportunities for cross-selling. The Technology Management Group (TMG)
is
the focal point for the ICICI Group’s technology strategy and Group-wide technology
initiatives.
This group reports directly to the Managing Director & CEO.
A key to ICICI’s success has been its ability to harness business information to CRM
initiatives
that have fueled growth and helped attract more than 30 million customers. The foundation
for
ICICI Bank’s wide-ranging CRM programs is a Sybase IQ-based data warehouse. Developers
had used a combination of PL/SQL and BTEQ scripting, a proprietary technology specific to
the
data warehouse, for data extraction, transformation, and loading (ETL). With its growing
customer base, IT administrators recognized that the bank needed a more powerful,
sophisticated
data integration system to help ensure the warehouse lived up to its potential as an analytic
CRM
engine that delivered tangible bottom-line results.
To step up to the next level of data integration, ICICI Bank officials agreed with a
recommendation from Teradata’s professional services division, which provided systems
integration support for the data warehouse, to implement the Informatica PowerCenter
enterprise data integration platform. (The Bank initially used Teradata as its data warehouse
platform and migrated to Sybase IQ a year ago.)
ICICI Bank deployed PowerCenter in 2003 as it embarked on the next phase of its
The next step in the CRM implementation process was gap analysis which essentially is
warehouse,
assessing
which would different loopholes
add data in:new sources, in addition to the initial three sources of retail
from five
banking, credit cards, and securities information.
- Marketing, sales and service practices
- Collection, capture, processing and deployment of customer
- information
Distribution and operations effectiveness at customer touch points
Suvobrata: CRM is the activity done at various levels of the organization, how does ICICI implement
it?
Ms Priyanka: Implementation part is done by Top management and I am not aware of the whole
process. I can just tell you that “GAP analysis “is done before we embark on CRM implementation.
Suvobrata: Thank you very much Ms Devadas.
Ms Priyanka: You’re welcome Suvobrata. Feel free to contact if you need further assistance. Have a
nice
day.
Reference:
Ms Priyanka Devedas (Wealth Manager-Delhi)
Priyanka.devadas@icicibank.com
ICICI Bank Limited
Booth No. 104-105
Faridabad – 121007
Mobile-09953001002
The ease with which we could approach to this employee itself speaks volumes about the ICICI culture
and its customer centric approach.
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European Journal of Social Sciences – Volume 11, Number 1 (2009)
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11 | CRM Practices in new generation Private Banks: A Case of ICICI Bank