ICICI Banks CRM Initiatives ICICI Bank has to manage more than 13 million customers.

The bank has over 550 branches, a network of 2025 ATMs, multiple call centres, Internet banking and mobile banking. Its customers often use multiple channels, and they are increasingly turning to electronic banking options. Business from the Internet. ATMs and other electronic channels now comprises more than 50 per cent of all transactions. In the process of making its business grow to this level, ICICI Bank has distinguished itself from other banks through its relationship with customers. The Teradata solution focuses on a CRM platform. Information from

various legacy and transaction systems is fed into a single enterprise called wide data warehouse. This allows the bank to generate a single view of its customers. The warehouse has the capability to integrate data from multiple sources comprising Oracle and flat files. The Behaviour Explorer enables profiling of customers and querying on various parameters. These enable the bank staff create suitable campaigns for targeting individual customers on the basis of their requirements. The logistics in the system have also led to other benefits like interactive reports, unearthing cross-selling opportunities as well as finding out about the channel usage undertaken by a segment. The data access was facilitated through the use of Cognos Power Cubes. The Benefits of CRM

 Customers usage pattern ICICIs CRM data warehouse integrates data from multiple sources and enables users to find out about the customers various transactions pertaining to savings accounts, credit cards, fixed deposits, etc. The warehouse also gives indications regarding the customers channel usage. New product development Analysis at ICICI guide product development and marketing campaigns through Behaviour Explorer, whereby customer profiling can be undertaken by using ad hoc queries. The products thus created take into account the customers needs and desires, enabling the bank to satisfy customers through better personalization and customization of services. Central data management The initial implementation of CRM allowed ICICI to analyse its customer database, which includes information from eight separate operations systems including retail banking, bonds, fixed deposits, retail consumer loans, credit cards, custodial services, online share trading and ATM.

Some Noteworthy CRM Initiatives of ICICI Bank Mobile ATMs Customers of ICICI Bank can access their bank accounts through mobile ATMs. These ATMs are kept in vans and parked at locations that have a high traffic of bank customers such as the commercial areas in a city or upmarket residential areas ICICI Bank now provides standard ATM facilities through ATM vans. This facility has been tried at Mumbai, Chandigarh and various places in Kerala during specified timings. Table Mumbai Mobile Van Timings 9.00 am to 10.00 am Locations Junction of Nehru Road and M.O. Road, near Ram temple, Vile Parle 11.00 am to 12.00 noon 1.00 pm to 2.00 pm 3.30 pm to 5.00 pm (E) Opp.J.W. Marriott Hotel, Juhu Lokhandwala Circle, Andheri (W) Outside Vasanth Sagar, 120 ft. Road, Hakur Village, Khandivali (E) Bulk Deposits The ICICI Banks Bulk Deposit ATMs enable customers to deposit large amounts at one time. Unlike conventional ATMs, which are able to accept only 30 notes at a time, these ATMs allow the deposit of huge amounts. The

Bulk Deposit ATM is available in Mumbais Vashi sector branch office of ICICI. The bulk deposit facility can be availed of by select customers who need to deposit huge amounts of cash. ICICI Bank issues a special card called the `Deposit Only Card to facilitate this service. This card allows for deposit transactions only. The service is further facilitated by the provision of special bags at ATMs in which a customer can put his money. After the deposit slip is filled, the bag can be inserted in the ATM. The transaction slip is then generated by the ATM as an acknowledgement of the deposit. ICICI Bank also has cash pick-up service for business customers under the business banking segment. ATMs for the visually challenged ICICI Bank has launched ATMs with special voice-guided systems, which guide a visually challenged person to access ATMs without any help. The jack on the terminal enables headphones to be connected to it and voice commands enable the customer to transact business. Customers may choose a suitable language to get voice commands. After the language selection is done, the customer is guided to ensure that the ATM card is inserted in the right slot and thereafter, guidance is provided for entering the PIN by using the keypad. A raised button is provided on number 5 to enable users to identify the numbers easily through touch. The slot for cash collection has such raised `pips that enable easy identification through touch. Other Services through ATMs

Apart from the usual transactions involving the bank, some other services can also be availed of by ICICI Bank customers. These include: Prepaid mobile recharge Buying and renewing Internet packs (such as those of TATA Indicom Internet service provider and Sify). Making donations for Tirupati Tirumala Devasthanams, Nathdwara temple and Shri Mata Vaishnodevi shrine. Mutual fund transactions, and Bill payments Mobile phone as a Virtual Wallet The mobile phone has been transformed into a virtual wallet a new innovation in mobile commerce. On September 19, 2005, Airtel, ICICI Bank and VISA announced the launch of mChq a revolutionary new service which is a credit card using the mobile phone. This is the first mobile-to-mobile payment option which enables Airtel customers and ICICI Bank Visa cardholders to pay for their purchases with their Airtel Mobile phones. The service has eliminated the need for carrying physical cash for making a purchase and also the problems associated with the point of sale (POS) terminal since the mobile phone services as a secure POS and a payment mechanism. Social Events

ICICI Bank organized the largest domestic invitational amateur golf event for HN1 (high-net-worth individuals) customers. banking division participating in the event. Mobile Banking Benefits Mobile banking enables the customer to avail of many facilities by just sending an SMS. These facilities, which are currently offered free of cost, are as follows: Locating ATM Locating branch Locating drop box Alert facilities like salary credit, account debit/credit, cheque bounce, etc., and Queries on banking, cards and demat account Case Questions 1. 2. CRM. 3. Explain the initiatives take by ICICI Bank to promote CRM. (25) Discuss the benefits of the initiatives taken by ICICI Bank to promote (25) What should be the core elements of CRM that ICICI bank in your opinion should follow, besides what they are already following to make themselves a distinct bank from their competitors?(25) This nation-wide golf tournament had over one lakh high-net-worth clients of ICICI Banks private

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Outsourcing CRM is one activity that most organizations follow. Is it a viable option. Give your views keeping in mind the cost involved in implementing CRM and enhancing business also.