ICICI has been quick to understand that the current scenario of banking in India is changing, it is not the same anymore , the public has various options to choose from with not much differences in the saving rates and other rates too, they needs to come up something that people are attracted to it , it should be something that differentiates itself from other banks.
ICICI soon realized that they have to be customer oriented and have to understand the current status of lifestyle of the people. They were quick to understand that with the hectic work schedule of people, banks have to change, their style, their working hours etc. ICICI is the first and the only branch so far in India that have working hours from 8 am to 8 pm. ICICI are the only bank that have been granted permission by RBI to start its service of Bank@home the later part of the report deals with the subject.
With the new banks entering into the market and margins filling up the competition has got tougher, but ICICI has been quick to understand the needs of its customer and has molded itself and in fact made itself flexible.
ICICI also understands that customer demands value for their money the service quality standards at ICICI bank allow them to deliver better products faster.
It is a fact that banks have been under immense pressure due to new entrants. The competition has been on a high. It is very clear customers would be willing to shift their money to new banks where they find a better rate of interest, however the rate difference between banks as very marginal and therefore the situation has not come into action and thus what is left is which banks can actually provide customers with meaningful and unique services. ICICI definitely stands out for the various services it offers to its customers also it has been able build a very strong trust with its customers which actually is the key to success.
ICICI bank has therefore been looking to innovate services that actually help their customers. They have been finding out ways for their customers that allow them to feel comfortable and hence building their trust with them.
ICICI soon realized that they have to be customer oriented and have to understand the current status of lifestyle of the people. They were quick to understand that with the hectic work schedule of people, banks have to change, their style, their working hours etc. ICICI is the first and the only branch so far in India that have working hours from 8 am to 8 pm. ICICI are the only bank that have been granted permission by RBI to start its service of Bank@home the later part of the report deals with the subject.
With the new banks entering into the market and margins filling up the competition has got tougher, but ICICI has been quick to understand the needs of its customer and has molded itself and in fact made itself flexible.
ICICI also understands that customer demands value for their money the service quality standards at ICICI bank allow them to deliver better products faster.
It is a fact that banks have been under immense pressure due to new entrants. The competition has been on a high. It is very clear customers would be willing to shift their money to new banks where they find a better rate of interest, however the rate difference between banks as very marginal and therefore the situation has not come into action and thus what is left is which banks can actually provide customers with meaningful and unique services. ICICI definitely stands out for the various services it offers to its customers also it has been able build a very strong trust with its customers which actually is the key to success.
ICICI bank has therefore been looking to innovate services that actually help their customers. They have been finding out ways for their customers that allow them to feel comfortable and hence building their trust with them.