ICICI Group

Consolidating statement delivery across the group.

Company Profile
ICICI Bank is India's second-largest bank with total assets of Rs. 3,446.58 bill
ion (US$ 79 billion) and profit after tax of Rs. 31.10 billion for fiscal 2007.
ICICI Bank is the most valuable bank in India in terms of market capitalization
and is ranked third amongst all the companies listed on the Indian stock exchang
es in terms of free float market capitalisation. The Bank has a network of about
950 branches and 3,300 ATMs in India and presence in 17 countries.
ICICI Bank offers a wide range of banking products and financial services to cor
porate and retail customers through a variety of delivery channels and through i
ts specialised subsidiaries and affiliates in the areas of investment banking, l
ife and non-life insurance, venture capital and asset management.
ICICIdirect.com is the online brokerage of the bank offering retail and institut
ional investors an online platform to buy/sell shares, futures & options, mutual
funds, etc .

Scenario and Challenges:

With the boom in stock markets in India and the growing equity cult among retail
participants, ICICIdirect.com was faced with huge volumes of transaction data t
hat needed to me notified/sent to customers in a timely basis. Regulatory requir
ements entail brokers to have contract notes, Demat account and TOC (Trade Order
Confirmation) statements delivered to customers on execution of trades. The mos
t efficient and cost effective way to deliver these notes, statements and confir
mation orders is to be able to deliver them electronically to customers in a sec
ure, password protected and digitally signed format.
The solution should scale to accommodate the growing volume of transactions and
customers trading online and not affect performance in the generation and delive
ry of contract notes, Demat and TOC statements in a timely and efficient manner.
ICICIdirect.com wanted to identify a methodology wherein it could be notified wh
en a customer email bounced back so that a copy of the print version with neithe
r encryption nor digital signature can be generated and mailed out to the custom
er automatically.
The brokerage wanted to efficiently manage and administer their customer support
operations for handling customer queries via a self care portal and enable user
s to have access and be able to download/print duplicate notes/statements enabli
ng efficient trading transaction tracking.
Moreover, ICICIdirect.com wanted to send out a consolidated statement to custome
rs detailing their ECN (Electronic Contract Note), TOC (Trade Order Confirmation
) and Demat statement information all in one single unified statement to save on
printing and dispatch costs.
ICICI Bank, a part of the ICICI Group was also looking for a cost-effective solu
tion that would help the bank with a consolidated statement presentation solutio
n to handle all their products and services like retail banking, credit cards, w
ealth management etc. through multi-channel statement delivery via web, email, f
ax, mobile (SMS) etc.
Data had to be consolidated from hybrid systems on the backend like core banking
systems, assorted databases, credit card billing and CRM systems. This data had
to be warehoused and converted to XML/CSV format for universal interchange acro
ss platforms and systems.
A single bank customer has multiple relationships with the bank like CASA (Curre
nt account/Savings account), loans, credit card, Demat (equity), mutual funds et
c. The bank wanted to consolidate these numerous product and service relationshi
p information into a single view for presentation and delivery.
The bank needed to inform and update customers with new innovative products and
solutions it was offering on a regular basis. ICICI Bank wanted to use the custo
mer account statement to advertise products and services targeted to the custome
r based on the customer s profile, thereby increasing ROI on the marketing campaig
n.
The entire process of statement generation, printing and dispatch had to be auto
mated end to end. A consolidated single statement generated for multiple product
s and services offered by the bank needed to be dispatched to customers in print
or electronic format for efficient and cost effective delivery.
A simple web based interface to manage and administer the entire statement gener
ation and dispatch of statements with reconciliation audits and logs to ensure s
tatements that were erroneously printed, not delivered or statement emails bounc
ed back were resent and tracked accordingly.
ICICI Bank needed a customer communication management specialist to help them wi
th a solution to present a consistent unified view of customer information acros
s their banking interfaces like call centers, customer portal and printed statem
ents mailed out.

The Solution
ICICI Bank and ICICIdirect.com chose SEEinfobiz as their one stop solution partn
er for all their customer statement communication requirements. SEEinfobiz has m
any years of expertise in designing and implementing bank account statement solu
tions in record time.
The customer trading (equity/mutual funds) and statement information (bank, loan
s, credit cards etc) had to be digitally signed, encrypted and password protecte
d before it could be sent to the customer to ensure the data reached the right c
ustomer without tampering or leakage. A unique system was incorporated wherein p
asswords were dynamically generated for each login to ensure maximum safety and
security.
ICICI Bank was able to integrate customer transaction information from across th
e bank s operations. This enabled the bank to have a comprehensive view of operati
ons and transactions from across the many branches and ATM s via a single centrali
sed interface using the web.
ICICI Bank can dispatch printed bank statements to multiple addresses for custom
ers who request the service for efficient and convenient access to account trans
action history. To better manage and control the statement dispatch and delivery
process across different channels like print, email, mobile etc, CLICK PSS gene
rates logs of all deliverables processed and dispatched for reconciliation purpo
ses to ensure the statements are processed and delivered efficiently to the righ
t address. ICICI Bank customers can log in through the internet banking portal t
o generate an ad hoc statement for a specific period in their desired format lik
e HTML or PDF. These statements are generated immediately on the fly and can be
saved for future reference by customer.
The CLICK PSS marketing module has a rule based engine to display messages and a
dvertising on the customer s bank statement. This enhances customer response to me
ssages and promotions as profiled customers are sent targeted messages based on
the customers user profile. This increases marketing ROI as customers segments t
hat are most likely to get value from products and services advertised are displ
ayed to customers.
CLICK PSS due to its unique architecture, does not interact with live transactio
nal data on core banking systems etc which results in rapid response for custome
r statement data as it is scalable to handle millions of users without impacting
performance.

Benefits
With CLICK PSS, ICICIdirect.com automatically emails a contract note, TOC (Trade
Order Confirmation) and the customers Demat account statement. This saves time,
costs and increases the convenience of trading with ICICIdirect.com.
Customers get a single statement from ICICI Bank that has a single unified view
of customers multiple relationships with the bank such as current/savings accoun
t, credit cards, loans, wealth management, online trading etc. This simplifies t
he relationship for the customer and the bank as both are better able to analyse
and understand the status of their account information without having to toggle
across multiple screens and reports.
The bank saves on print and postal costs as a single consolidated statement acro
ss the customers many relationships with the bank are dispatched to the customer
. The customer does not have to deal with multiple statements that come from dif
ferent entities of the bank, that need to be tracked and paid at different dates
and to different entities.
All customer account information for their multiple relationships is centralised
to bring efficiencies in customer service, maintenance, training and support co
sts.
Customers get timely delivery of their statements via different channels for the
ir convenience like email, web, print, fax etc to enhance their customers bankin
g experience thereby saving costs and time.
The system enables seamless customer account management for the bank and online
transaction tracking for the brokerage. Customers are prompted to access their a
ccount information online, thereby reducing the calls to the call center and bra
nch offices. Time and cost saving in producing, printing and dispatch of unified
statements across multiple channels are the leading innovations to SEEinfobiz s C
LICK PSS solution.
ICICI bank car loan india

ICICI bank offering loan for 'Nano'

The 'Nano' phenomenon has opened up a new category of borrowers - somewhere betw
een borrowers for two-wheeler loans and cars loans, say bankers reacting to the
Tata car launch.
ICICI Bank is looking at offering personal loans along with a car loan for the N
ano. "The Rs 1-lakh car has created a new segment of customers, who would typica
lly fall into the middle-class or lower middle-class segment. The loan should, t
herefore, not only cover the capital cost but also the running cost of the vehic
le as it will otherwise be difficult for customers to meet the monthly expenses
arising out of the car," Mr Ravi Narayanan, Group Business Head, Vehicle Loans,
ICICI Bank.
With the volumes of the Rs 1-lakh car expected to pick up, the four-wheeler shar
e of auto loans could increase over the next three to four years. This will push
banks to design products to meet the changing customer profile, operating cost
and logistics requirement, Mr Narayanan added.
The interest rate on loans for Nano is likely to be higher than the rate for oth
er cars but lower than the rate on two-wheeler loans. Similarly, the tenor of th
e loan may fall in between that of a car loan and a two-wheeler loan. Currently,
interest rates on car loans and two-wheeler loans range from 12-14 per cent and
18-22 per cent respectively. While the tenor of a car loan is around five years
, it is around two years for a two-wheeler.
ICICI BANK launches - NRO FD Plus
ICICI Bank, India's second largest bank, today launched a new Non-Resident Ordin
ary (NRO) deposit feature, NRO Fixed Deposit Plus (NRO FD). This new feature int
roduced by the Bank's NRI Services division will enable NRI's to maximize their
post tax yield on NRO FDs.
With this, ICICI Bank has made available the benefit of concessional rate of Tax
Deducted at Source (TDS) under the Double Taxation Avoidance Agreement (DTAA) a
s a standard product feature to its NRI customers. ICICI Bank will offer this fe
ature initially to NRI's from countries such as the US, UK, Canada and Singapore
.
Mr. Manish Misra, Head - NRI services and Remittances, ICICI Bank, said "Fixed D
eposits have a steady place in any asset allocation mix. In a well-balanced asse
t allocation strategy, the share of such investments will be in double digits. A
nd, depending on the risk profile of the investor, this may vary from 5%- 50% of
the portfolio. In the current scenario, bank deposits offer one of the safest,
convenient and yet an attractive investment option for all. For NRIs, Non Reside
nt (Ordinary) bank deposits generate the best guaranteed rupee returns".
EDB ties up with Reliance Insurance and ICICI Prudential
To provide better banking and investment facilities to rural masses of the valle
y, Elaquai Dehati Bank (EDB) has tied-up with Reliance general insurance and ICI
CI prudential life insurance for distribution of their products. While speaking
about the policies of the bank at the inaugural ceremony of first computerised b
ranch of EDB at Wazir Bagh, Chairman EDB Ahmadullah Tak said "Although there are
so many banking facilities available in our valley these days but surprisingly
60 percent of population do not have accounts in any of the banks and a large ch
unk of this population belong to rural areas.
Our aim is not to sell just products to these people but to offer them individua
l solutions where they would find better options of investment and to ensure pro
per counselling, we have tied-up with ICICI prudential and Reliance general insu
rance."
The chairman said that the bank has presently hundred solutions to offer and the
money deposited by the customers is channelled through local investments to ben
efit local investors and customers. ICICI car loan offered at very low rate of i
nterest and exclusive repayment schemes.
"We always look forward to introduce new products or what we call as solutions i
n our banking jargon and presently we have some hundred solutions to offer our c
lients.
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ICICI Bank's goon doing the recovery work
Pune district consumer disputes redressal forum has ordered ICICI Bank to cough
up Rs 1 lakh compensation to a woman for not following due legal procedure while
seizing her car after alleged default in payment. The bank has been accused of
sending recovery agents to housewife Renu Bhandwalkar's home and damaging her ca
r.
The order comes close on the heels of a Rs 55-lakh fine slapped on ICICI Bank by
the Delhi state consumer disputes redressal commission on November 5 for trying
to recover a vehicle loan by hiring goons.
The Pune forum, in its order last month, observed that Bhandwalkar had kept a de
posit of Rs 58,000 with the bank and given instructions to transfer it to her sa
vings account if her account did not have sufficient balance to clear the cheque
s of equated monthly installments against the loan.
ICICI Bank: fined 50 lakhs for employing goons
The Delhi Consumer Commission fined ICICI bank a whopping fine of Rs 50 lakh for
employing "goons" to recover loan and deplored the practice of the banks intimi
dating consumers to pay the installments.
In the significant judgement, the Commission deprecated the "audacity and impuni
ty" with which the banks have been effecting forcible possession of vehicles and
ordered ICICI also to pay Rs 5 lakh to a consumer, who was mercilessly beaten b
y the recovery agents while they snatched a loaned car from him.
"No civilised society governed by rule of law can brook such kind of conduct," t
he Commission's President Justice J D Kapoor said, adding the violent methods ad
opted by the recovery agents were serious violation of "human rights".
Easy Finance for Owning a New or Used Car
Buying a car in these days has become a lot easier since there are plenty of len
ders in the marketplace, ever willing to offer a car loan. So either you want to
buy a new car or a used one, car loans are available with ease for any type of
borrower.
Car loans are categorized under secured or unsecured loans. You should choose th
e options as per your requirements and circumstances. If you are buying a high p
riced new car, then secured car loans can give you greater amount depending on v
alue of property you pledged as collateral. The very car you are buying also can
be placed as collateral. However the lender will not approve a loan that is gre
ater than the price of the car. The biggest advantage of secured car loans is it
s lower interest rate which ensures lower monthly payments for the loan installm
ents.
Now ICICI Bank offer car loan which comes in your dream. don't just wonder of it
go and check out the cheap rates offered by them for saving your pockets.
Unsecured car loans are suited best to tenants or non-homeowners. Unsecured car
loans are approved without collateral and so the loan is of no risks for the bor
rowers. You would be given a smaller amount under unsecured car loans. However u
nsecured car loans carry higher rate of interest.
ICICI Pofits more from Loans
ICICI Bank, India's second-biggest bank by assets, said second-quarter profit ro
se 33 percent as it earned more from car loans, home loan, personal loan and fin
ancial products in Asia's third-biggest economy.
Net income increased to 10 billion rupees, or $252 million, in the three months
to Sept. 30, from 7.55 billion rupees a year earlier, the bank told the Bombay S
tock Exchange on Friday. That is higher than the 9.3 billion rupees median estim
ate of five analysts surveyed by Bloomberg.
"Banks are posting good earnings on higher fee income and by exercising pricing
power by cutting deposit rates and raising lending rates," said Navneet Munot, w
ho helps manage about $8 billion at Birla Sun Life Asset Management in Mumbai. "
Loan demand from companies seems to have offset any slowdown in demand from indi
viduals."
RBI helps ICICI Bank get back to school
ICICI Bank wants to teach banking to schoolchildren, in fact to anyone who wants
to learn. And its main muse for this cause was the Reserve Bank of India, which
has been exhorting banks to educate the public about the basics of banking. Hen
ce, when ICICI asked for help, the RBI was more than willing to don the role of
publisher and teacher for the cause.
Last week, Disha, the NGO front of the bank, launched the first of the series of
its school comic books on banking. And RBI was in full force at the release. Sa
id RBI's general manager, Kamala Rajan, "This is one venture which has been done
totally in-house starting from the animation done in the book to the text and i
deas."
Is it good to go for floating rate car loan?
ICICI Bank recently announced the introduction of floating rate car loan - a fir
st among the banks that are very active in car loans.
Floating rate option till now was available only for the longer tenure home loan
s. But is it a viable option for the short tenure - 3 to 5 years - car loans?
First, let us look at the interest rate differential available between the float
ing rate and fixed rate car loan offered by ICICI Bank. The differential is only
50 basis points (100 basis points make 1 per cent). That is, if you can get a f
ixed rate car loan from ICICI Bank for 14 per cent, then if you are opting for a
floating rate, you could get the loan for 13.5 per cent.
Repayments for car loans become easy with ICICI Bank
ICICI Bank has decided to offer floating rate loans to purchase cars and commerc
ial vehicles.
It will be the first in the country to offer a floating rate repayment product f
or car loans, commercial vehicles, construction equipment and professional equip
ment loans.
The move is designed to attract customers at a time when interest rates have sta
rted showing signs of peaking out.
The private sector bank is the market leader in the car loan segment with a shar
e of around 30 per cent. However, like others in the sector, ICICI Bank has seen
fewer customers queueing up for car loans because of the high interest rates.
ICICI BanK: Lending rates Don't see to come down in next 6-8 months
V Vaidyanathan, Retail Head, ICICI Bank, said, the bank has seen lower consumer
demand across the board due to higher rates and supply side constraints. Auto de
mand is down to 12-13% while two wheelers have seen degrowth of 13%, he said.
He expects a 20% loan growth for banks in FY08 as against 28% last year. Vaidyan
athan doesn't see an impact on bank margins going forward. "Growth of banks' bal
ance sheets may get affected due to loan degrowth."
Vaidyanathan doesn't see lending rates coming down for the next 6-9 months. "RBI
is still signaling a tighter monetary policy despite lower IIP numbers. Inflati
onary worries signal a flat interest rate scenario."
Car loan just a swipe away
ICICI Bank announced a new initiative in its car loans segment called LOTS (loan
on the spot) for its existing savings account customers.
Those aspiring to purchase a car under the new initiative of the bank need to ha
ve a savings bank account with the facility of a debit card to get the pre-appro
ved offer from the bank.
ICICI Bank General Manager and head, retail assets, Rajiv Sabharwal said :''With
the boom in the country's economy, there is a sudden spurt in the demand for ne
w cars and hence we've launched this offer to facilitate our customers to have a
car.
The bank has started the initiative in a few cities, namely Mumbai, Delhi, Kolka
ta, Chennai, Hyderabad, Bangalore, Pune, Ahmedabad, Chandigarh and Jaipur at the
moment, but would soon extend the offer to more than 20 cities.
ICICI Bank's Head of Car & Commercial Vehicle Loans N.R. Narayana said :''We hav
e put separate swipe machines at the dealers' shops for the purpose for the time
being to avoid confusion.'' However, the existing swipe machines are equipped w
ith this facility, he added.
India's ICICI Bank net rise 25 pct, meets f'cast
India's second-largest lender, ICICI Bank (ICBK.BO: Quote, Profile , Research),
reported on Saturday a 25 percent rise in quarterly net profit, meeting forecast
s and helped by growing demand for loans in the expanding economy.
"We do see a little slowdown there because of the interest rate where they are a
nd the property prices being high," Chief Financial Officer, Vishakha Mulye said
.
ICICI Bank, which had an overall credit growth of 35 percent, has seen a slowdow
n in its mortgage and auto loans business, she said.
Maruti's Profit Gains on Indian Demand for SX4, Swift Cars
Maruti Udyog Ltd., maker of half the cars sold in India, reported profit grew fo
r a 16th consecutive quarter as it introduced new models.
ICICI Bank Ltd., India's largest lender, have tied up with the carmaker to offer
loans to customers in towns and villages, where credit wasn't previously availa
ble, to boost vehicle sales
he carmaker, 54 percent owned by Suzuki, plans to invest as much as $2 billion b
y 2012 to produce new cars and expand capacity. That may help take on competitio
n from minicars of General Motors and hatchbacks from Volkswagen AG and Nissan M
otor Co.
Interest rate hike hits car loan off take
Car loan offtake is facing a lull in March due to increase in interest rate by 1
% and withdrawal of incentives like free insurance to buyers after the budget.
This is the first time in three years that the rate has been hiked by 1%. It was
also hiked last year but only by 25 to 50 basis points (100 basis points = 1%).
"The market did not grow as per the expectations after budget but we expect it t
o improve by the month-end," sources in ICICI Bank said.
Eligibility Terms for your Car Loan from ICICI...
With ICICI Bank Car Loans, you can avail of Car Loans as well as Car Overdraft L
oans as per your needs. Our eligibility criterion is given below for the two dif
ferent types of loans as per your occupation.
Age Criteria :
->Salaried Individual :
The applicant should be atleast 21 years old at time of application, and below 6
0 years of age at time of maturity of the loan
->Self-Employed Individual :
Any Proprietor, partner, professional or director above 21 years of age but belo
w 65 at the time of the loan's maturity
->Partnership Firm :
- - - -
->Private / Public Ltd Co :
Limited companies should have been in existence for at least 2 years
Income Criteria :
->Salaried Individual :
Gross annual salary above Rs 1 lakh p.a
->Self-Employed Individual :
Gross annual income above Rs 60,000
->Partnership Firm :
Firm should have a minimum PAT (profit after tax) income of Rs 60,000
->Private / Public Ltd Co :
Minimum PAT (profit after tax) of Rs 60,000