The bank has introduced a chief technology and digital officer position (CTDO) along with a technology and digital group (TDG) to work on improving the bank’s digital capabilities. The TDG group will enable the bank develop its digital capabilities for its commercial, retail and wholesale banking, its treasury business, and its small and medium enterprises business.
ICICI Bank is an Indian private bank that plans to deploy artificial intelligence-infused chat bots to serve as quasi-bankers that can assist in loan choices and do remittances, according to cryptocoinsnews.com.
ICICI Bank can use blockchain in imports and exports trade. The bank can create a link from the point where exports get made and certificates are received to the point where they give confirmation and another group of banks provide funding. Having the process on an open ledger makes it more transparent and removes data entry mistakes.
The shared ledger can provide provenance, consensus and finality for transferring assets in business networks.
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