I applied for ICICI Bank Adani Group credit card which was system approved but my application got rejected without any call or explanation because I think there was some issue with my office address verification which wasn't even mentioned as my communication address. I was totally surprised to know this as these leading banks are still living in the Stone Age.

I applied for ICICI Bank Adani Group credit card which was system approved but my application got rejected without any call or explanation because I think there was some issue with my office address verification which wasn't even mentioned as my communication address. I was totally surprised to know this as these leading banks are still living in the Stone Age.

And to top it all, ICICI Bank due diligence process is so antique that even technology would be ashamed after knowing their process. Who does video due diligence by having a 1-on-1 video call for a simple credit card application? Why don’t they learn the trade from the masters like Zerodha on how to do the video due diligence using technology?

How come these banks become leading banks of the country with such low level of technology integration? The day RBI opens up the banking sector for startups, these stone age banks will get wiped out in days and not even months. They are only existing because our financial systems are still very much closed door.

ICICI Bank Sachin Ab Roopesh Kajrolkar Shilpi Jain Shaunak D. Joshi Simran Bangera Manoharan P S Ritwik Sen Wilfred Morris Veena Nair Nishad N Amarjit singh Walia Ritwik Sen Rohan Subhedar Satyam Sahu Neelam Rane

This post was originally shared by Abhijeet Kumar on Linkedin.