ICICI Bank's Bank Bazaar App

The Problem: The bank wanted an initiative where the customers can authenticate themselves, check their pre-qualified loan and credit card offers online and get provisional e-approval. Cross Selling of loans and credit cards to existing customers is a strategic priority of the Bank. It helps in achieving the goal of making www.icicibank.com the preferred platform for applying for loans and credit cards.

The Solution: Existing customers will benefit from faster online application process as their application forms are partially pre-filled, thanks to the technology implemented. Customers can also apply for the 1% cash back scheme. On completion of their online application, customers will get an instant provisional e-approval on their application. Post authentication customers can instantly check their pre-approved loan offer amount online.

The Result: In the first month of launch, 150 applications were received from authenticated customers of which 50 had pre-approved offers. 500 applications were received from authenticated customers for personal loans. 700 applications were received for credit cards too, from authenticated customers of which 60 had pre-approved offers.