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The Miracle Strategy

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Openvy — Keep everyone in the Loop

Discovering Financial
Freedom with ICICI Bank

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How can we give millions of Indians more control
over their savings?
A lack of understanding of basic financial concepts, such as
budgeting, saving, investing, and more, leaves individuals
vulnerable to poor financial decisions and hence, deprives them
off a possible better and fulfilling life.
ICICI Bank believes that the future of financial security is in 
actionable personal finance management.

28M

Users by 2024

9,000B

Total value of transactions in fiscal year 2023

56%

Growth possibility
 in transaction value

ICICI Bank is a leading financial institution in India that continues to transform millions of lives through its personalized banking solutions. Since 1994, ICICI Bank has consistently pioneered innovative financial solutions that promote the ultimate one-stop banking experience.

With Sparklin, ICICI Bank set out to create a dynamic digital ecosystem, beyond the boundaries of a mere Personal Financial Management (PFM) system to unlock a world of exceptional financial opportunities.

Discover started with the vision to redefine personal finance in the Asian fintech landscape, offering personalized suggestions to better manage individual financial complexities.

The Challenge

Market reports indicate that on a national scale, the average per capita purchasing power in India stands at INR 117,153. However, a substantial portion of this income for the average working professional often remains unutilized in the bank or spent frivolously, apart from daily necessities. Most people don’t know how to maximize their wealth potential because they are simply unaware of existing strategies in an ever-growing economy.

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Kapil Makhija

assistant general manager, icici Bank

Working with Sparklin has been an incredible experience. When we began
building our platform, we knew we needed more than just a partner with
banking expertise. We needed someone who truly understood customer
psychology and design, and that's where Sparklin came in.

The synergy between ICICI Bank and Sparklin helped create a platform
 that has been widely accepted and celebrated. Their emphasis on
 customer-first thinking, design principles, and seamless project execution
 was exemplary. What stood out the most was Sparklin's culture of
 commitment and adaptability. Even under tight and sometimes
 unreasonable timelines, their team went above and beyond to deliver.

Together with ICICI Bank, we stepped in to address this knowledge gap
and developed 'Discover' as an extension to the existing iMobile app.
Our primary objective was to build a social mechanism that could channelize this spending power, making it actionable, preferably towards savings and investments, thereby ensuring long-term financial stability, and possibly better and fulfilling life for ICICI Bank's customers.

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UX/UI Design, User Research, Visual Design,
Product Strategy

Our Solution

Equipped with a deep understanding of ICICI Bank's legacy, we focussed on mapping user behaviors, critical needs, and engagement patterns to improve financial stability. Our approach was to decode actual usage patterns, as opposed to conventional PFMs that merely track budgets.

ICICI Discover offers personalized financial recommendations to help
users save by budgeting, tracking expenses, and prioritizing essentials. Through Discover, individuals can learn and take the right financial actions as needed — gain insights into their spending habits, set financial goals, and access a range of personalized banking solutions.

The Outcome

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28M

Users by 2024

9,000B

 total value of transactions 
in fiscal year 2023

56%

Growth possibility
 in transaction value

The introduction of new engagement maps improved the customer journey by leaps and bounds, making the experience more intuitive
and complete. The solution framework also leveraged users’ existing know-how, streamlining their interactions within the interface. With key banking information at their fingertips, users can confidently manage their financial well-being and aspire for a stable and independent future.

The age of the digital is paramount for banking institutions to stay relevant. We are honored to have played a crucial role in strengthening ICICI Bank’s dominance in one of the world’s largest economies.

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