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ICICI Fails to Embrace Technology

December 8th, 2008

India’s leading bank for retail customers – ICICI has clearly failed to embrace technology which otherwise would have made the banking for millions of customers easy. Just do a Google Search on ICICI Products Review such as ICICI Direct etc and you will see only complaints and no appreciation.

Most of the times when markets exhibit volatility, ICICI Direct is Down. A reader sent us screen shots on how stupidly ICICI has handled the Password module. At the Login Page, ICICI displays a Virtual keyboard [to prevent password thefts by key loggers] and once logged in, if one has to change the password, there is no Virtual keyboard. This shows that how poorly IT Systems are planned and developed in ICICI.

Dalal Street exposes bug in ICICI’s trading Platform as it didn’t let users execute orders in HDFC Bank stock which is not subjected to any circuit limits. A user on ComplaintBox demands invstigation by SEBI for not executing his orders and system letting the user do all sorts of modification on his order without any outcome, is also mad about ICICI’s extremely poor customer care. You will see endless consumer woes about ICICI’s services. Looks like there is absolutely no accountablity in the organization as they incrementally fail to resolve problems.

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