Business Process Reengineering

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BUSINESS PROCESS REENGINEERING

A CASE STUDY ON
ICICI BANK



Before delivering into the topic I would like to explain what is BPR. BPR (Business Process Reengineering) is all about reinventing, rethinking, redesigning, redirecting and rebuilding. It touches five segments strategy, processes, organization, technology and culture. In other words “Reengineering is the fundamental rethinking and radical redesign of business processes to achieve dramatic improvements in critical, contemporary measures of performance, such as cost, quality, service and speed’’. BPR is an ongoing process critical to a company's success. Faced with a constantly changing business environment, companies are scurrying to grasp the potency of this trend -propelled by competition, globalization and need for speed. The most important reason for companies to launch BPR projects is to gain efficiency and productivity. Once this is achieved, they can boost organizational efficiency and streamline business and production processes. BPR helps companies optimize work flow and productivity

ICICI BANK :TECHNOLOGY - LED TRANSFORMATION

COMPANY PROFILE:
Established in 1994, ICICI Bank is today the second largest bank in India and among the top 150 in the world. In less than a decade, the bank has become a universal bank offering a well diversified portfolio of financial services. It currently has assets of over US$ 79 billion and a market capitalization of US$ 9 billion and services over 14 million customers through a network of about 950 branches, 3300 ATM's and a 3200 seat call center. The hallmark of this exponential growth is ICICI Bank’s unwavering focus on technology. 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 July2007). 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. (These data are dynamic.) ICICI Bank is also the largest issuer of credit cards in India. ICICI Bank's shares are listed on the stock exchanges at Kolkata and Vadodara, Mumbai and the National Stock Exchange of India Limited; its ADRs trade on the New York Stock Exchange (NYSE). The Bank is expanding in overseas markets and has the largest international balance sheet amongIndian banks. ICICI Bank now has wholly-owned subsidiaries, branches and representativesoffices in 19 countries, including an offshore unit in Mumbai.

ICICI Bank is one of the Big Four Banks of India, along with State Bank of India, Axis Bank and HDFC Bank — its main competitors.

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. another reason is to offer Internet banking and established itself as a leader in the Internet and e Commerce space. The bank followed it up with offering several e-Commerce services like Bill Payments, Funds Transfers and Corporate Banking over the net. The internet is a critical element of ICICI Bank’s award winning multi-channel strategy that is one of the main engines of growth for the bank

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...
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