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ICICI Bank Trade Services: From Complexity to Simplicity

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28 March 2023
Patricia Hines

Celent Model Bank of the Year 2023, Part II

Abstract

As part of its Customer 360 promise, ICICI Bank is committed to deepening customer relationships, continuous tech innovation, and seamless delivery. The bank integrates technology into every aspect of its business, from delivering value to customers to optimizing internal operations. ICICI Bank demonstrated its commitment to strengthening its technological capabilities in two customer segments, Retail Banking and Corporate Banking, with six separate initiatives. Based on the overall strength of those initiatives as a group, Celent awarded ICICI with its highest award, Model Bank of the Year. The Celent Model Bank of the Year Award is awarded for best practices of technology usage in banking and is the highest award that a bank can receive from Celent. This is one of two case studies supporting ICICI Bank’s 2023 Model Bank of the Year award. Part I focused on several concurrent initiatives that markedly improved the customer experience for its credit card customers across the customer lifecycle while improving operational efficiency for the bank.

The bank’s investment in trade services, digital platforms, and solutions demonstrates its commitment to this critical industry segment. ICICI delivered three impactful trade services initiatives: Trade Emerge, One Bank One Flow, and TradeChain. ICICI Bank is a strong example for other banks to follow in leveraging technology to strengthen their trade finance offerings across several dimensions—a comprehensive portal for start-ups, an internal solution to identify and close leads, and an end-to-end solution to manage domestic trade transactions.

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