Digital banking system by ICICI?

ICICI baBanknk has announced the launch of ICICIStack- a digital banking services to ensure uninterrupted banking experience to customers. The service is aimed at retail and business including retailers, merchants, large ecommerce firms at a time when they are advised to stay indoors in the wake of the coronavirus outbreak.

 

ICICIStack offers 500 services that cover almost all banking requirements of customers, in one place. The list includes digital account opening, loan solution, payment solutions, investments, insurance and care solutions. 

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Some of the prominent services available in ICICIStack are:

 

    Accounts Stack: Services like instant digital savings account with FD, PPF; instantly available salary account, current account, travel card, bill pay solutions; APIs like connected banking with ERP software, account management and digital on-boarding of partners

 

    Payments Stack: Offers digital payments and payout services like UPI, QR scan and pay, merchant settlement and customer cashback, refund transactions, EazyPay merchant app and digital on-boarding of merchants 

 

    Loans Stack: Includes services like instantly available personal loan, business loan, credit card, home loan sanction, home loan top up, car loan sanction and digital small-ticket credit called Pay later. APIs include e-Nach based mandate, instant loan booking, disbursement to partner accounts for car loan or education loan, disbursement to customer account. 

 

    Investment Stack: Offers instant services like FD, RD, SIP, PPF, NPS and AI-led Robo-advisory for mutual fund investments, real-time investment updates and any channel servicing. Also offers value-added added products like FD with life insurance or credit card or monthly income plan or investment with SIP 

 

  Care stack: Includes services for protection for life, health, car, two-wheeler and home.