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23 August 2012

ICICI Bank rolls out 25 electronic branches and launches many next generation banking solutions

·         ICICI Bank rolls out twenty five 24x7 Electronic Branches across 18 locations
·         ICICI Bank launches a range of new technology initiatives to make banking simple, effortless and convenient for the customers
Mumbai: ICICI Bank Limited, India’s largest private sector bank, today announced the launch of new technology-based initiatives to make banking simple and effortless. The Bank has since its inception leveraged technology to provide convenient and easily accessible banking services through a range of channels such as ATMs, internet, mobile and phone banking. The Bank has continuously enhanced the functionality of these channels to deliver a growing bouquet of services, many of which were the first of their kind in the industry. Continuing with this strategy, the Bank is now using technological advances and growing cost efficiencies in mobile devices and communications technology to make banking even more simple and convenient and match the customer’s evolving behaviour.
Speaking at the launch Ms. Chanda Kochhar, Managing Director and CEO, said, “We have always leveraged technology to make banking convenient and enhance the customer experience. Our continuing adoption of innovative technology reinforces our commitment towards improving and developing our relationship with our customers. The new initiatives are in line with our “Khayaal Aapka” philosophy of  keeping the customer’s needs as the focal point of our business.”
The new initiatives launched are as follows:
24x7 Electronic Branch: ICICI Bank has launched 24x7 electronic branches which are one-stop shops for all banking transactions. Customers can transact on their own, at a time of their convenience, with the help of various automated devices and kiosks. The electronic branch offers the facilities of a cheque deposit machine, an interactive kiosk through which internet banking services can be accessed easily by just swiping a debit card, a cash deposit machine with instant credit facility and 24-hour video conferencing with ICICI Bank’s customer care personnel. Currently, there are 25 such electronic branches across 18 locations.
Tab Banking: ICICI Bank has launched Tab Banking, which gives a potential customer the convenience of opening his bank account at his or her home or office. Using a tablet equipped with mobile connectivity, our executive can scan the relevant KYC documents and click a picture of the customer, thereby doing away with the need for the customer to visit a branch. Further, this gadget can be used to provide a demo of our internet, mobile and phone banking solutions. It also offers immediate response and resolution to a customer’s queries. Tab Banking has been successfully rolled out in nine locations.
Bank-on-the-Move: ICICI Bank, in keeping with its commitment to reach out and facilitate banking in areas where there are no branches and ATMs, is launching a new tool called Bank-on-the-Move. This will be  a POS terminal with an in-built GPRS and Wi-Fi connectivity to carry out various banking transactions in remote locations. This will allow customers to avail various services like instant deposit and withdrawal of cash along with receipts for the same, print out of account summary, opening a fixed deposit, issuing a demand draft and a host of other services. Thus Bank-on-the-Move can be used to reach out to potential customers in semi-urban and rural areas where there are no physical bank branches.
E-Locker: ICICI Bank has introduced E-Locker for its wealth customers. E-Locker is a virtual online locker, which is available on the ICICI Bank internet banking platform. The E-Locker can be used to safely store electronically scanned copies of important documents like legal agreements, policy documents, degree certificates and bank statements in various formats. The facility serves as a backup and retrieval tool for important documents and offers a storage space of 1 GB per customer. The E-Locker can be availed at no additional cost by our wealth customers.
Help-on-Tab: Enhancing the experience in day-to-day banking, ICICI Bank is launching Help-on-Tab that will allow its branch staff to pre–process customers’ transactions while the customers are waiting to get serviced in the branch. It will create a 'Self-Service' ecosystem that will reduce the servicing time for customers. The tablet will be enabled with in-built Wi-Fi connectivity, which will make it mobile and easy to operate.
About ICICI Bank: ICICI Bank Limited (NYSE:IBN) is India's largest private sector bank and the second largest bank in the country, with consolidated total assets of $ 111 billion at June 30, 2012. ICICI Bank’s subsidiaries include India’s leading private sector insurance companies and among its largest securities brokerage firms, mutual funds and private equity firms. ICICI Bank’s presence currently spans 19 countries, including India.
Except for the historical information contained herein, statements in this release, which contain words or phrases such as 'will', 'would', etc., and similar expressions or variations of such expressions may constitute 'forward-looking statements'. These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to our ability to obtain statutory and regulatory approvals and to successfully implement our strategy, future levels of non-performing loans, our growth and expansion in business, the adequacy of our allowance for credit losses, technological implementation and changes, the actual growth in demand for banking products and services, investment income, cash flow projections, our exposure to market risks as well as other risks detailed in the reports filed by us with the United States Securities and Exchange Commission. ICICI Bank undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date thereof.
For Press Queries please contact:
Mr. Sujit Ganguli
Head, Brand and Corporate Communications
ICICI Bank Limited
Bandra Kurla Complex, Mumbai – 400051

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