In spite of being a pioneer in the digital space, our technological backbone is next-gen and FUTURE-READY.

The preparedness and convenience of our digital platform were tested and proven when the nationwide lockdown forced everyone indoors from March 25, 2020, during which time most financial transactions got limited to the digital space. There was a huge surge in volumes on icicidirect.com, and the platform handled it very smoothly, without any disruption. During the period, volumes touched unprecedented peaks of 3.2 million orders plus trades per day, up from earlier peak of 2 million. The platform successfully served over 64,000 concurrent customers, compared to average 23,000, and earlier peak of 48,000 users.

Even when it came to enabling our employees to work from home during the lockdown, our digital infrastructure proved to be excellent. Our Company seamlessly transformed itself to remotely provide unrestricted services to customers, while maintaining customer privacy and information security.

Our digital initiatives are designed to empower customers with all the tools to fulfil their lifetime financial requirements, covering investments, protection, and loans. Customer acquisition, onboarding, and servicing can all be done online. Our philosophy is ‘Build, Buy, or Ally’ to bring the best digital experience for our customers. What we cannot build ourselves, will either buy from the market, or partner with an existing service provider to make it available for our customers.

Key digital initiatives launched

During the year, we embarked on our journey to become open architecture in digital capabilities. We launched an API architecture to help us quickly integrate with a diverse set of fintech players and other partners. We evaluated more than 90 projects with many in different stages of development. Some of our key initiatives are:

Client onboarding process has been made completely digital

Complete online ESOP funding and repayment tools

Added chatbot and WhatsApp as client servicing options to provide 24/7 instant assistance using Artificial Intelligence

Launched Automated Integrated Portfolio Evaluation, which provides a consolidated view of a client’s portfolio, with risk behaviour and advisory

Launched One Click Investment Plan, a simplified research-based portfolio of MFs, ETFs, and stocks