Discovering Financial
Freedom with ICICI Bank
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.
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.
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.
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.
