ICICI Bank wins award

Our Banking Bureau
23 June 2003

Teradata (www.teradata.com), a division of NCR Corporation (www.ncr.com), today announced that ICICI Bank is the first organisation in Asia Pacific to receive the prestigious award from the American business intelligence and analytics magazine.

Ron Powell, publisher and editorial director of DM Review, says: "Selected by our judges as a World Class Solution Award winner in the Business Intelligence category, ICICI Bank has recognised the value of a single version of the truth to correctly identify and target current and prospective customers."

The award-winning Teradata enterprise data warehouse (EDW) solution has enabled ICICI Bank to establish business intelligence market leadership in the fast-growing Indian financial market. The bank uses its Teradata platform to develop tailored marketing campaigns that have boosted customer acquisition rates significantly.

It has serviced over 11 million unique customers around the country. In addition, ICICI Bank's credit cards and retail loans business units attribute 25 and 20 per cent respectively of their new/incremental business in the past year to cross-selling activities facilitated by the data warehouse.

The Teradata solution has also helped the bank optimise its delivery channels across 400 shopfronts, 1,600-plus ATMs, multiple call centres and Internet banking services. ICICI Bank is currently expanding its Teradata EDW to incorporate information from call centres and web-based transactions. Non-branch transactions have grown from 5 per cent to 50 per cent of all transactions in a two-year period, representing an important revenue source for the bank.

"Winning this award is an incredible achievement for ICICI Bank and Teradata," says Teradata business manager (India) Amrish Rau. "The solution was the first large-scale CRM implementation in the Indian banking sector. Teradata commends ICICI Bank for its vision and willingness to take on such a monumental project. This shows how an Indian company embracing enterprise data warehousing solutions can very quickly rise to stand alongside the very best businesses in the world. ICICI Bank has set a precedent that others can follow."