Home: Free Resources > Free Case Studies> IT & Systems |
|
The Indian Internet Banking JourneyICICI – Internet Banking Initiatives Contd...The service was launched to reduce transaction cost and offer convenient banking to customers. This meant enabling the customers to access their bank account and make transactions at any time. ICICI realized that to make Infinity a success, it would have to invest heavily in sound Internet banking e-commerce technology. During 1995-99, ICICI invested Rs 50 million in online banking technology solutions. In 1997, ICICI bought the 'BankAway'6 software from Infosys. BankAway was an e-commerce solution that provided the bank a platform to offer an integrated financial services portal to the customers.
On account of the growing competition in the Internet banking sector, ICICI focused on enhancing and extending its business-to-business (B2B) and B2C services through tie-ups and acquisitions. The bank entered into a 50-50 joint venture with Satyam Infoway7 in December 1999 to offer retail banking products and services on the Internet.
6] BankAway was the first Internet banking solution in India and was installed at four out of the six leading banks in the country offering Internet banking services. It was featured in a study, 'Ranking of International Internet Banking Solutions' by Meridien Research, USA. BankAway was the only solution from Asia Pacific to be featured in the report. |
Case DetailsCase Code : ITSY003 Free Case Studies
Business Strategy Micro Case Studies
Business Environment Free Resources
Micro Case Studies Case Related Links
Best Selling Case Studies |