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ICICI Bank focusing on digital

News Updates 30 June 2016_html_m5494d2d7ICICI Bank is planning to have a chief technology and digital officer to handle digital strategies of the bank, including experiments in blockchain. According to Chanda Kochhar, MD and CEO of the bank, quoted in news reports, the bank will also be forming a ‘Technology and Digital Group’ (TDG), which will help it develop its digital services in commercial, retail and wholesale banking. The bank is already planning to deploy artificial intelligence chatbots as loan advisors to its customers. The report said the bank is now looking at blockchain technology, something which it believes will make it more robust for customers. It is also looking for scalability and lower costs. Kochhar said it is not just limited to the banking part, it can also be made use of in trade or exports and imports.

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