iGuide

Every Customer is Valued. Equally

 ● Practice of delivering a full range of financial product and services
to high-net-worth-individuals(HNWI)

● Covers only a miniscule population. As per the survey in 2017,

there are only 330,000 high-net-worth-individuals(HNWI) in India

● Leaves out the large chunk of population which are left with no
financial advisory

Private Wealth
Management: ● Most of the time it is a fee based process
Current Scenario
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 Where we Step In (iGuide)
Revenue of bank comes from below mentioned ways prominently: By selling
different
services
Interest on Interest on (products)
Fees Income
Loans Investments

We combine private wealth management with the selling of product through our iGuide
which will provide them with recommendations on how to invest their money. The data
taken from customers spending will be churned to give meaningful insights about the
financial health of the customer. This will be used to give insights to the customers
about what ICICI product will be best suited to them depending upon the current stage
of their life.

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 Highlights of iGuide

● Removes the fee

from the process
● Caters to all the
customers rather
● For ex - If any than High Net
customers spends Worth Individuals
on baby product thus changing
● Pitching would be
then our advisor mindset to “Every
based on the
banking history as would pitch the Customer is
● Streamlining Banks's customer for child Valued. Equally”
well as suggestion
product pitching which is care assistance
asked by customer
limited nowadays due to related products
.
less human interaction
with the customers with
the advent of technology 4
iGuide for wealth management
● AI can represent knowledge and identify relationships in the data within customer, market, or product
profiles. Eg- A wealth advisor might use AI software to automatically predict changes to an investment
plan for a client who is expecting childbirth based on the client’s current financial state and their
declared goals.
● AI can help wealth advisors with decision-making by correlating the time series data in each profile to
deliver insights. Eg- If a client had expressed interest in a particular company in past trading
experiences, AI software might prompt the wealth advisors with trading insights on holding or selling
stock for that company under volatile market conditions.
● AI software learns through feedback and automatically improves its recommendations by
incorporating preferences declared by the client, or by inference, trends from the profile data.
● AI software might help wealth advisors identify correlations between financial events, such as the
release of an annual report and a client’s investment choices, immediately thereafter. The software
might then prompt advisors when similar opportunities arise in the future
Primary Data
A survey has been carried out among 117 respondents in NCR and results were as follows:

● This shows apart from the people having age greater than 50 years there is high amount of
unexplored customer base which can be exploited through iGuide
Secondary Data
● The 2018 Retail Banking Advice Study by J.D. Power found that millennials are more receptive
to bank advice than generations before them. Customers ages 25 to 39 had the highest levels
of satisfaction with bank-provided advice . A key takeaway from the study is that iGuide has a
great opportunity to provide financial guidance and advice using a combination of digital and
in-person interactions.
 Impact
● Engagement: Helping
● Personalization: iGuide will identify the
wealth advisors
investment preferences of a client and
communicate the most
provide personalized advice to a degree
relevant insights for a client
that was not possible before. This might
at a preferred time and
involve taking into account factors such as
channel.
declared, observed, and inferred
information around client goals or attitude
towards risk.

● Increase in Customer Base: With the

● Revenue Generation: iGuide will
work in direction of Every Customer is
help in the revenue generation by
Valued. Equally, iGuide with its
pitching the product(services) of the
technological advancement will
bank thus revamping the product
increase the customer by including
based revenue generation
customer from every base (as per the
research) not just HNWI
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