Digital Transformation cannot start without the change of mindset

Going Digital - what does it mean to you and your organization?

ICICI Prudential Asset Management Company has always been at the forefront when it comes to technology adoption as a means to improve customer and partner experience for all their interactions with us. With the environment changing rapidly over last few years and technology moving in leaps and bounds, we decided to have a broad framework on what Digital would mean to us.

When we looked around, we realized that there is no simple definition of digital. Interestingly, what we were always doing (i.e. using the latest technology to improve customer and partner experience) is also looked as digital. So, we decided to dig deeper and came up with a definition that Digital is the way of doing things and it would have following characteristics:

a) Creating Values by exploring latest technology/ business/structure advancement

b) Creating Values in the processes that execute a vision of customer and partner experience

c) Looking at Customers and Partners as “Connected Customers” and working to be part of the connection.

d) Building the foundation required to support the structure.

What is your Digital Transformation plan, strategy and the deliverables you expect or already coming in?

Digital Transformation cannot start without the change of mindset, and hence for us one the first steps towards this journey was going through a Design Thinking Workshop, as we felt it related to the characteristics that we had outlined in our Definition of Digital i.e. way of doing things. Post the above, we have created different teams to look into different areas of deliverables to customers or partners with a clean slate. In addition to looking at the entire processes in various areas of the organization wehave looked at:

a) SMAC Stack comprising of Social, Mobile, Analytics, and Cloud

b) Bharat Stack consisting of Aadhar, UPI, IMPS etc.

c) Training for the users

d) Information Security is the cornerstone of any solution.

Due to our focus, we have initiated many industries first features and solutions for our partners and customers like “IPRUTOUCH” our mobile app for Customer and Partner, Aadhar based biometric payment etc.