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ICICI Bank bets on Digital Banking

December 07, 2021

ICICI Bank bets on Digital Banking

Private sector lender ICICI Bank is betting big on technological innovations and digital banking to boost its franchise.

The lender in an analyst day highlighted initiatives in digital banking.

“ICICI Bank in its analyst day highlighted how the strengthening of its digital capacities is helping transform the bank and increase throughput rates, while offering clients a superior experience,” said Motilal Oswal in a research note.

The bank is fit for building and scaling digital capacities like the best of the FinTechs, though agility, constant innovation, and client focus remains the key to success, it further said.

“ICICI Bank has been reporting strong growth in Retail propels, upheld by a impressive share of digital originations, while SME/Business Banking development has been strong, supported by various digital applications, it further noted.

The report featured that ICICI Bank’s mobile application is showing robust acceptance, with around 45 lakh activations from non-bank clients, 34x development in transaction value, and 18x development in clients.

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