Different customer segments have different requirements on knowledge, research, and tools to help them take a trading or an investment decision. Based on this, we have built a multi-modal architecture comprising online model for emerging affluent customers and online-plus-relationship model for the mass affluent and affluent, the wealth and private customer segments.
We continually evolve our customer proposition, designing products relevant to each micro-segment of target clients, leveraging deep understanding of client behaviour and preferences. Some of the key products launched during FY2020 are:
A subscription-based offering, this is a package of exclusive research, reasonable pricing, and best-in-class liquidity, with a unique proposition of transferring funds to a client’s account within 30 minutes. It is targeted at sourcing higher quality clients, activating dormant customers, and adding annuity revenue to the equity business lines.
A new derivative pricing plan to attract Options traders, who form the majority of the F&O market.
Targeted at increasing engagement with MF clients, this product offers an easy and automated method of allocating a predefined amount periodically into a curated basket of research-recommended MFs. We offer 25 curated baskets, offering a variety of investment options ranging from equity to debt to hybrid, both for lumpsum and SIP purchase.
This product is designed to provide advisory-based capabilities. It offers the facility of investing in a multi-asset basket of low-cost ETFs, based on clients' risk profile. The investments are monitored daily and allocations are adjusted based on market conditions. Customers can invest across different asset classes in a single click. The portfolio has no brokerage fee on the buy and rebalance transactions.
It provides investors with free life insurance cover up to 120x of their SIP investments with 70 Mutual Fund schemes.
During a crisis, it is of utmost importance to be readily available to customers to address their concerns, provide the right advice, and help them take necessary actions on their portfolio. Our Company, supported by the technology team and our robust digital infrastructure, ensured unrestricted service. Also, we created a safe work environment for our client-interfacing employees. In March 2020, when the markets were extremely volatile, with panic over the COVID-19 contagion spreading fast, our ICICIdirect platform functioned in an uninterrupted manner, even with volumes touching unprecedented peaks of 3.2 million orders plus trades per day, up from the earlier peak of 2 million. During the period, the platform successfully served over 64,000 concurrent customers, compared to the average 23,000, and earlier peak of 48,000 users.
Annual Report 2019-20
