In mid, the credit control teams at ICICI Bank were confronted with a new set of challenges. Following the subprime mortgage crisis of in the United States, the world economy witnessed a slowdown. The effect of the subprime turmoil, that was once thought to be limited to the housing loans business, had started spreading to other sectors.

Access the latest thinking in AI and machine learning, and look at how these technologies could help your IT department. You forgot to provide an Email Address. This email address is already registered. You have exceeded the maximum character limit. Please provide a Corporate E-mail Address. By submitting my Email address I confirm that I have read and accepted the Terms of Use and Declaration of Consent.

By submitting your personal information, you agree that TechTarget and its partners may contact you regarding relevant content, products and special offers. You also agree that your personal information may be transferred and processed in the United States, and that you have read and agree to the Terms of Use and the Privacy Policy.

As risk levels accentuatedcredit terms needed to be tightened. As a result, the banks were also required to deal with a new challenge of reduced liquidity, which was threatening to become a powerful economic decelerator.

Deterioration in the macro-economic environment and the rising interest rates further intensified the challenges faced by banks; ICICI Bank was no exception. Amidst these challenges, ICICI Bank had to ensure that its customers remained satisfied with its services and did not switch to its competitors.

Debt collection was identified as the key process where a friendlier approach could result in improved customer satisfaction and loyalty. One of the important steps in the debt collection process was choosing the appropriate customer-approach channel for each case.

ICICI Bank decided to use business intelligence BI to achieve this goal. A novel approach to debt recovery.

One of the most pertinent aspects that ICICI Bank had to pay attention to was debt recovery. Although the primary function of recovery agents is to ensure debt collection, the bank wanted to carry out the process delicately without losing its customers. Thus, the bank introduced customer-friendly practices, which, in addition to ensuring collection, were aimed at improving customer relationship and its own brand value.

The bank uses multiple channels for debt collection. This includes non-intrusive channels such as SMS, e-mails, IVR, dunning letters, and reminder calls through the call centers, which are used to handle early delinquencies.

The serious delinquents require a personal visit or may even need initiation of legal action. India, with its varied demographics and diverse customer segments, posed a challenge when it came to servicing the heterogeneous customer-base. The vastness of the Indian market resulted in heavy dependence on the field agencies for debt collections, unlike the western world, where majority of the delinquent pool is serviced by the call centers.

The bank management, with the aim to transform debt collection as a customer retention tool, decided to use technology to achieve the objective. It employed analytical models developed with SAS that factored in several parameters such as efficiency of collector, customer profile, risk behavior, and exposure. For instance, low risk and low outstanding debtors may just need a gentle reminder, whereas high risk and high outstanding debtors need to be directly contacted via field agencies or bank employees.

Prior to the adoption of technologyover a thousand employees of the bank used to manually allocate around 30 lakh delinquent cases across more than locations to around 2, channel partners based on subjective rules.

However, the manual allocation proved inefficient, and the scale of the exercise called for an analytics-based solution. This data is made available to the collection work flow system CAPSwhich delivers the details of the case assigned to each individual. The vendor was not involved during the deployment owing to lack of experience in the Indian debt collection process.

However, post implementation, the vendor optimized the code and ensured that the solution complied with the international standards.

Offering self-service and a multi-channel approach have improved efficiency in debt collection at ICICI Bank. The BI unit BIU has played a vital role in important projects like centralized allocation and score cards. The project has resulted in a major shift in the DSMG strategy and improved collection efficiency. Projects like customer categorization have provided crucial insights for strategic decision making.

Key processes where BI has proved helpful Tangible benefits. Follow Anti Money Laundering AML guidelines, the ING Vysya way. Maia 1Key provides HDFC Life with option for BI upgrade. Business intelligence tool to be deployed at Tata AIG Life. Yahoo deploys open source BI tool made in India. SAP BW aids enterprise-wide data management at Essar Steel. Key processes where BI has proved helpful. Customer behavior during the last 12 to 24 months was analyzed depending upon the product and business objective while building these models.

These models help identify and hence give differential treatment to customers based on their payment propensity. The bank now has 10 payment propensity scorecards and 34 segmentation models across customer segments and products, built over two years.

The models are updated on a monthly and quarterly basis factoring in the changing customer behavior and business dynamics. The scorecards are deployed using SAS. This is a critical strategy deployed for non-delinquent customers across products.

It involves behavioral analysis of the potential defaulters to assess their credit orientation and worthiness. Traditional methods react to delinquency that has already occurred, whereas the pre-delinquency management gives an edge by raising an early alarm.

Analytical models are developed to identify customers who have higher probability of forex price pattern trading delinquent. Further, these customers are offered a wide range of services like best forex signals trade copier reminders, SMS campaign, new payment schedule, and flexible credit limits.

An important tool for risk management adopted by banks at a portfolio level. Using analytics across the spectrum in DSMG has brought about a number of efficiencies in the process. This, along with extensive use of data and models to evaluate performance livestock sales in alberta prioritize or de-prioritize icici bank put option, has been widely recognized as the best-in-class use of analytics in collections.

Ethical fears hinder growth of artificial intelligence in France.

ICICIBANK Future ICICIBANK Options ICICIBANK Call ICICIBANK Put ICICIBANK Cash : Free Day Trading Tips ICICI Bank Limited

By submitting you agree to receive email from TechTarget and its partners. If you reside outside of the United States, you consent to having your personal data transferred to and processed in the United States. GE CEO Jeffrey Immelt is stepping down after boldly paving the company's digital path.

He stuck to his guns and CIOs should too. The digital workplace, including the CIO shop, is moving toward cross-functional collaboration, greater openness to outside For all the intense interest in AI investments, the ROI for AI is not well-understood.

Rather than make bad guesses, CIOs should At the Cloud Identity Summit, former covert CIA officer Valerie Plame discussed interest rate options trading jobs increasing risks of nation-state Alvaka Networks' Kevin McDonald looks at the real-world damage caused by data leaks at the CIA and NSA, which have put dangerous The latest WikiLeaks release on CIA hacking tools includes the CherryBlossom project, which highlights router security issues, Arista has upgraded its spine-leaf architecture for service providers and huge data centers.

The update includes a new spine Ruckus Wireless expects to become a part of ARRIS in the first week of August. The new ARRIS-Ruckus will remain autonomous and This week, bloggers look into operational insight from network analytics, vulnerabilities in the wake of WannaCry and slow 25 GbE Buyers must know how to evaluate DCIM software to ensure it meets their requirements for icici bank put option tracking and management, power and There's an innovative concept behind the buzzword 'serverless.

Network, storage and server management can be overwhelming and time-consuming tasks. Evaluate automation techniques to simplify IBM pulled the plug on its distribution of Hadoop in favor of reselling Hortonworks' bundle of big data technologies, a decision Moving relational data into Hadoop is not a slam dunk.

To avert programming complexities, a major Texas school turned to As companies collect customer data and other types of information from more and more sources, the master data management process All Rights Reserved, Copyright -TechTarget. News In Depth Blogs Opinion Videos Photo Stories Premium Content GUIDE TO GDPR. Enterprise software View All. IT in Europe and Middle East View All. Information Management View All.

IT in Asia-Pacific View All. IT skills View All. IT security View All. IT services Is the stock market closed on yom kippur All. Please select a category.

ICICI ( - ) Exam - MeritExam

Share this item with your network: Download this free guide. Case study warehouse Follow Anti Money Laundering AML guidelines, the ING Vysya way Maia 1Key provides HDFC Life with option for BI upgrade Business intelligence tool to be deployed at Tata AIG Life Yahoo deploys open source BI tool made in India SAP BW aids enterprise-wide data management at Essar Steel.

This was last published in November Read more on Business intelligence and analytics All News In Depth Blog Posts Opinion Photo Stories Videos. How SAS is prepping its marketers for the data flood How Hana is disrupting SAP hosting services Tools of the trade to drill into behavioural data NoSQL offerings from Microsoft and Oracle Load More View All In Depth.

Software AG drives 'black box' analytics with Octo Telematics Monetising free information? How to transition to a cloud-based analytics environment Robots will transform, not replace, human work Why it pays to get messy with big data Essential business tool content analytics is held back by a lack of skills Load More View All Opinion. Scrum methodology FAQ for Indian professionals Scenes from EMC Momentum Vienna India CIO Salary and Career Survey BI Masterminds, View All Photo Stories.

Chris Carey, independent consultant and former global insight director at Universal Music Interview: Using IBM Watson for smart decisions View All Videos. Add My Comment Register. Login Forgot your password? Submit your e-mail address below. We'll send you an email containing your password. Your password has been sent to: Please create a username to comment. Latest TechTarget resources CIO Security Networking Data Center Data Management Search CIO Will GE stay on digital path following CEO's departure?

The future of workplace structure: Cross-functional teams, AI impact The digital workplace, including the CIO shop, is moving toward cross-functional collaboration, greater openness to outside Measuring ROI for AI investments? Put on your venture capitalist hat For all the intense interest in AI investments, the ROI for AI is not well-understood.

Search Security Valerie Plame warns of increased nation-state cyberattacks At the Cloud Identity Summit, former covert CIA officer Valerie Plame discussed the increasing risks of nation-state How intelligence data leaks caused collateral damage for infosec Alvaka Networks' Kevin McDonald looks at the real-world damage caused by data leaks at the CIA and NSA, which have put dangerous Router security issues highlighted by CIA's CherryBlossom project The latest WikiLeaks release on CIA hacking tools includes the CherryBlossom project, which highlights router security issues, Search Networking Arista pumps up its spine-leaf architecture for huge data centers Arista has upgraded its spine-leaf architecture for service providers and huge data centers.

ARRIS-Ruckus to 'double down' on service provider market Ruckus Wireless expects to become a part of ARRIS in the first week of August. Enterprises seek operational insight from network analytics This week, bloggers look into operational insight from network analytics, vulnerabilities in the wake of WannaCry and slow 25 GbE Search Data Center Evaluate DCIM software and its impact on the data center Buyers must know how to evaluate DCIM software to ensure it meets their requirements for asset tracking and management, power and Serverless architectures offer more than a catchy buzzword There's an innovative concept behind the buzzword 'serverless.

IT infrastructure automation lessens the load for data center teams Network, storage and server management can be overwhelming and time-consuming tasks. Search Data Management IBM bets on Hortonworks Hadoop platform as its big data engine IBM pulled the plug on its distribution of Hadoop in favor of reselling Hortonworks' bundle of big data technologies, a decision High-level tools help Hadoop data lake go to school Moving relational data into Hadoop is not a slam dunk.

Blooming of master data sources complicates customer MDM efforts As companies collect customer data and other types of information from more and more sources, the master data management process About Us Meet The Editors Contact Us Privacy Policy Our Use of Cookies Advertisers Business Partners Media Kit Corporate Site Contributors Reprints Archive Site Map Answers E-Products Events In Depth Guides Opinions Quizzes Photo Stories Tips Tutorials Videos Computer Weekly Topics.

A novel approach to debt recovery One of the most pertinent aspects that ICICI Bank had to pay attention to was debt recovery. Reporting of the key parameters.