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Private sector lender ICICI Bank on Tuesday announced the launch of an online platform to offer digital banking as well as value-added services to exporters and importers across India.
Called Trade Emerge, it aims to makes cross border trade hassle-free, expeditious and convenient, as it offers an array of services in one place, which eliminates the need for companies to coordinate with multiple touchpoints, the bank said in a statement.
The list of banking services includes current and saving account offerings, trade services such as Letter of Credit, bank guarantee, trade credit as well as digital solutions like corporate Internet banking and trade online, state-of-the-art foreign exchange solutions, payment and collection solutions and credit cards, it further said.
Further, value-added services include incorporation of trade business, access to global trade database of nearly 15 million buyers and sellers across 181 countries, verification reports of potential customers through reputed credit bureaus, logistics solutions for shipment booking and last mile tracking, and insurance services like marine insurance all available online through a single window, and many more.
“These services are offered through partners having expertise in their respective fields,” the bank said.
Vishakha Mulye, Executive Director, ICICI Bank said the objective of this initiative is to increase efficiency and productivity of exporters and importers decongesting the time-taking physical procedures.
“This is a part of the Bank’s endeavour to offer customised digital banking as well as value-added solutions to corporates, and their entire ecosystem through various initiatives. The benefit of this platform is available to all exporters and importers, even if they are not customers of ICICI Bank,” she said.
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