Chanda Kochhar-Leading Digitization at ICICI Bank

In March 2016, Chanda Kochhar, (Kochhar), Managing Director and CEO of India-based multinational banking and financial services company ICICI Bank (ICICI), made an announcement that took the bank and outsiders by surprise. She created a new senior executive role in the bank as part of its annual reorganization. The position was unique – not only in the banking sector but also across other sectors. The post created was that of Chief Technology and Digital Officer (CTDO), who was to report directly to Kochhar and would be responsible for a newly created team, the Technology and Digital Group (TDG), which would work exclusively on developing and improving the bank’s digital initiatives and technology . The creation of the CTDO post and the TDG were aimed at facilitating ICICI’s digital agenda across the bank’s portfolio of segments viz. retail, wholesale, commercial banking, small and medium enterprises (SMEs), and treasury businesses. Analysts said this move indicated the bank’s big future plans around digitizing its banking functions...