ICICI Bank on Tuesday announced the launch of ‘ICICIStack’, a comprehensive set of digital banking services and APIs (Application Programme Interface) for its customers across various segments. The lender said that it would be helpful at a time when people are advised to stay indoors on account of the novel Coronavirus pandemic.
Nearly 500 services including digital account opening, loan solutions, payment solutions, investments, insurance and care solutions are available on ICICIStack. As part of the initiative, the lender said that many of the services that were end-to-end digitised, which involved manual intervention earlier.
“Many of the services are first-in-the-industry and are available instantly on the bank’s mobile phone or internet banking platform,” the lender said. Various services under the accounts stack, payments stack, loans stack, investment stack and care stack are available digitally without customers, including retail customers as well as merchants, retailers, professionals, fintechs, start-ups, e-commerce players and corporates, having to visit the branch.
Anup Bagchi, executive director, ICICI Bank, said that ‘ICICIStack’ is the most comprehensive digital infrastructure available in the country by a bank. “We have been working on ‘ICICIStack’ in order to offer customers all digital banking services from one single platform for the past few years. ‘ICICIStack’ is the result of an evolving and pioneering journey to build digital solutions and large capacity to fulfil the vision of Digital India. In the wake of the Coronavirus outbreak over the past few weeks, we have added a few new features and services to offer a bouquet of solutions to our customers so that they can experience the banking services uninterrupted,” he said.