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BUSINESS PROCESS RE-ENGINEERING:ICICI BANK MIJI MATHEWS
ICICI:AN OVER VIEW• ICICI Bank (formerly Industrial Credit and Investment Corporation of India) is a major banking and financial services organization in India.• It is the 4th largest bank in India and the largest private sector bank in India by market capitalization. The bank also has a network of 1,700+branches (as on 31 March 2010) and about 4,721 ATMs in India and presence in 19 countries, as well as some 24 million customers (at the end of July 2007).• ICICI Bank offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and specialization subsidiaries and affiliates in the areas of investment banking, life and non-life insurance, venture capital and asset management etc
Reasons for BPR Initiative:• In year 2000 and later when anytime, anywhere banking came to our country, ICICI Bank had to move away from the branch-centric model and make its services available nationwide. The solution was to centralize its applications.• Legacy systems: The traditional systems at ICICI Bank were very centric to the branch. For example a server at New Delhi was specific to the branch in that city; the ATMs were standalone catering only to the city branch. The banking transactions were thus limited to the respective branch offices as customer data was not available in other branches. This made banking a limited service and very branch specific.• ICICI realized the importance of offering nationwide banking but this would be possible only by having a centralized data repository.
Teams Involved• Infosys is one of technology partner for ICICI Bank which game the assistance to implement Finacle for handling all the banking activities• Bill Desk for online payments• SYBASE: Sybase, an SAP company• SAS for business analytics software and services.
Project Design• The basic network was set up for providing the e-mail facility, but none of the applications were linked to the network. With growing business and rapidly increasing accounts, the company found it extremely difficult to administer and manage the system.• The centralization procedure started around late 1999. ICICI InfoTech (a company promoted by ICICI) made the first network design for the group in 1999—it was a hub and spoke architecture• Centralizing the operations was not the solution, but centralization of data was. here problem ICICI Bank faced with the legacy systems was that they were stand-alone systems and the data from one branch was not available with another branch. These problems led us to the new design of the hub and spoke architecture.
The Solution• The ICICI InfoTech team designed the initial network topology in 1999. The team had put forward a series of designs, not radically different from each other. Eventually, a design with a mix of VSATs, leased-lines, radio-links and ISDN was selected. A mixed design was selected because of the disparate locations of the group across the country.• The network follows a hub and spoke architecture—a mix of VSATs, leased lines, ISDN and radio links. It has around 800 leased lines, about 600 VSATs, approximately 800 ISDN lines and multiple 34 Mbps lines.• The most important aspect to setting up a network was to have a good relation between the technology consultant (network integrator), the vendor and the client.
• There is a primary site from where spokes go out to the regional branches and the other offices. The secondary site has the disaster recovery system• High-end Cisco routers and switches have been deployed for connectivity. The network is monitored using HP OpenView and CiscoWorks. Over 30 portals are operating using a highly secure state-of-the-art security architecture, which consist of firewalls, intrusion detection systems, virus protection and various other tools.• Hardware at both these sites varies from low-end NT servers to the high- end SUN E 10K along with 12 terabytes of data storage at each end connected through a Storage Area Network• Unix is the preferred OS for most of the hardware while most of the databases use Oracle with a few on Sybase and MS SQL.• With the ICICI group having several companies under its umbrella,Finacle needed to seamlessly integrate with multiple applications such as credit cards, mutualfunds, brokerage, call center and data warehousing systems.
• The scalable and open systems based architecture, enabled Finacle to successfully manage the increase in transaction levels from 400,000 transactions a day in 2000 to nearly 2.1 million by 2005 with an associated growth in peak volumes by 5.5times.• With Finacle, the bank currently has the ability to process 0.27 million cheques per day and manage 7000 concurrent users. Over the years, the strategic partnership between ICICI Bank and Infosys that started in 1994 has grown stronger and the close collaboration has resulted in many innovations. For instance, in1997, it was the first bank in India to offer Internet banking with Finacle’s e-banking solution.• Currently, only 25 per cent of all transactions take place through branches and 75 per cent through other delivery channels. This reduction in routine transactions through the branch has enabled ICICI Bank to aggressively use its branch network as customer acquisition units. On an average, ICICI Bank adds 300,000 customers a month, which is among the highest in the world.
Supporting Tools & Techniques• Finacle – a core banking and universal banking solution from Infosys• The network follows a hub and spoke architecture—a mix of VSATs (Very small aperture terminal) , leased lines, ISDN and radio links. It has around 800 leased lines, about 600 VSATs, approximately 800 ISDN lines and multiple 34 Mbps lines.• UNIX is the preferred OS for most of the hardware while most of the databases use Oracle with a few on Sybase and MS SQL
CONCLUSION• ICICI Bank has grown immensely over a period of time with it through business process re-engineering to a company of net worth Rs 3,000 crore.