We are witnessing a reverse trend in innovative solutions from emerging economies making an impact on businesses in the advanced markets. ICICI is India’s second largest bank with an asset base of about US $81 billion (as on March 2010) and over 20 million customers. It is expanding its international business in countries such as the United Kingdom, United States, Germany and Canada through a variety of service delivery channels including internet and mobile banking. Supporting its international growth plan is our universal banking solution, Finacle™.
Our solution enabled ICICI Bank achieve competitive advantage by a rapid roll-out of new products and faster customer service through multiple self-service platforms. The bank is now managing its global operations by delivering rich customer experience across channels, centralizing processing hubs and ushering in automation to excel in a multi-country environment.
Emerging economies now provide global enterprises
the opportunity to engage with millions of consumers
for new products and services. Enterprises need to
re-engineer their business processes and technology
platforms for their suitability to build growth
momentum in emerging economies. The traditional
approach of adopting standardized processes and
systems from the developed economies poses
significant challenges in these markets. For example,
the innovative application of mobile technology and
web-based services has led to the development of
new products, services and business models for the