The ICICI Bank on Wednesday announced the launch of 'ICICI STACK for Corporates', a comprehensive set of digital banking solutions for corporates and their entire ecosystem including promoters, group companies, employees, dealers, vendors and all other stakeholders.
The wide range of 360-degree solutions enables corporates to seamlessly meet all banking requirements of their ecosystem in an expeditious and frictionless manner. With this launch, ICICI Bank aims to be the preferred banking partner for companies and their entire ecosystem.
The environment in which corporate customers operate is becoming increasingly dynamic and competitive with accelerated digital adoption transforming every business. In this ever-changing environment, a banking partner, which can serve not only the corporates but also the entire ecosystems where they operate in, adds significant value to corporate customers, the bank said in a statement.
With this backdrop, the Bank has created 'ICICI STACK for Corporates' to serve the companies and their ecosystem by bringing the full bank to the customers, it added.
A first-of-its kind initiative, the 'ICICI STACK for Corporates' provides customised digital banking services to companies in over 15 leading industries-- such as financial services, IT/ITES, pharmaceuticals, steel to name a few-- and their entire ecosystem. Armed with the Bank's digital platforms, these services can further be tailor-made for companies within an industry.
The four main pillars of the 'ICICI STACK for Corporates' are: digital banking solutions for companies; digital banking services for channel partners, dealers and vendors; digital banking services for employees and curated services for promoters, directors and signatories.
In order to supplement these digital efforts, ICICI Bank has opened eight ecosystem branches --- five in Mumbai and three in the National Capital Region (NCR). It plans to launch another four in this financial year.
Vishakha Mulye, Executive Director, ICICI Bank said, "In an increasingly competitive and dynamic environment with rapid digital transformation impacting every industry, corporates look towards a banking partner, which can offer the breadth and depth of solutions for the entire ecosystem. With an objective to cater to the ecosystem of every corporate, we have launched a digital 'ICICI Stack for Corporates' with many industry first features. It offers banking solutions to corporates with backward and forward integration for their entire network of employees, dealers, vendors and all other stakeholders. We look forward to partnering with our customers for the banking needs of their entire ecosystem and unlock the full potential."