ICICI Bank launches ‘ICICI STACK for Corporates’ to offer ecosystem banking

Provides 360-degree digital banking solutions to corporates, their channel partners, employees and other stakeholders.

Jun 18, 2021 10:06 IST India Infoline News Service

ICICI Bank has 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.

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.

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 stateof-the art 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:
  1. digital banking solutions for companies;
  2. digital banking services for channel partners, dealers and vendors;
  3. digital banking services for employees and
  4. curated services for promoters, directors and signatories. Many of the digital solutions are first in the industry", stated by the company.
"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. These ecosystem branches are full service centers that house multi-functional teams with deep expertise required to nurture relationships and bring the entire bouquet of services of the Bank to each of these corporates and their ecosystem", it added.

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.

The ‘ICICI STACK for Corporates’ is built on the premise that each industry and each corporate ecosystem has bespoke requirements. We have backed the ‘ICICI STACK for Corporates’ with our IT prowess to customise it to the diverse requirements of industries and corporates across sectors. This feature enables us to offer various solutions to corporates in a significantly expeditious manner. We believe that the ‘ICICI STACK for Corporates,’ coupled with our ecosystem branches, will help us serve the needs of our customers and enable us to bring the full bank to the customer.”

At around 10:38 AM, ICICI Bank was trading at Rs626.55 apiece down by Rs5.95 or 0.94% on Sensex.

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