ICICI Bank launches industry-first digital solutions for exporters

Mumbai, Jan 4 (KNN) Private lender ICICI Bank on Wednesday announced the launch of digital solutions for exporters, a comprehensive set of banking and value-added services on a single platform.

The initiative aims to simplify the journey of exporters by decongesting the current time-intensive manual procedures, thereby significantly improving their operational efficiency, said a press release.

The set of solutions also offer industry-first facilities such as instant disbursal of Export Packing Credit (Insta EPC) and Trade APIs.

Insta EPC provides export finance instantly, while Trade APIs enable smooth handling of export transactions directly from exporters’ ERP systems, thereby providing greater convenience.

Speaking about the initiative, Sumit Sanghai, Head- Large Clients Group, ICICI Bank, said, “ICICI Bank intends to support the growth of exporters with an all-encompassing suite of digital solutions. The set of solutions enables large, medium and emerging companies to undertake their export transactions online, anywhere and anytime. We believe that this initiative will bring in unmatched efficiency in the entire export lifecycle across industries and act as catalyst in their business growth.”

The suite of solutions digitise the entire export life-cycle-- from discovery of export markets, export finance, foreign exchange services to receipt of export incentives for MSMEs and large MNCs.  (KNN Bureau)