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ICICI Bank launches ‘ICICIStack’, India’s most comprehensive digital banking platform

March 17, 2020

  • Empowers customers—retail and business-- with seamless banking services digitally, from home or office, without branch visits
  • Customers can now undertake almost all banking services digitally, ranging from account opening, loans, payment, investments and protection solutions

Mumbai: ICICI Bank today announced the launch of ‘ICICIStack’, a set of the country’s most comprehensive digital banking services and APIs (Application Programme Interface) to ensure uninterrupted banking experience to customers—retail and business including retailers, merchants, fintechs, large e-commerce firms, corporates—at a time when they are advised to stay indoors in the wake of the coronavirus outbreak. Many of the services are first-in-theindustry and are available instantly on the Bank’s mobile phone or internet banking platform.


‘ICICIStack’ offers nearly 500 services that covers almost all banking requirements of customers, in one place. The list includes digital account opening (instant savings and current account opening), loan solutions (instant personal loans, instant credit cards, instant home loan sanctions, instant car loans, instant overdraft facility, instant business loans), payment solutions (digital payment solutions like UPI, bill payments using Bharat Bill Payment System), investments (instant FD, PPF, NPS and AI led robo-advisory for other investments), insurance (term and health insurances digitally) and care solutions (protection for life, health, car and home).


Further, ‘ICICIStack’ offers the first digital service that enables instant opening of savings account along with an instant FD or instant PPF, among others.


Speaking about the initiative, Mr. Anup Bagchi, Executive Director, ICICI Bank, said, “We have been working on ‘ICICIStack’ in order to offer customers all digital banking services from one single platform for the past few years. ‘ICICIStack’ is the result of an evolving and pioneering journey to build digital solutions and large capacity to fulfil the vision of Digital India. In the wake of the coronavirus outbreak over the past few weeks, we have added a host of new features and services to our customers so that they can experience the banking services uninterrupted.

I believe that in its current form, ‘ICICIStack’ is the most comprehensive digital infrastructure available in the country by a bank as it can facilitate crores of retail customers as well merchants, retailers, professionals, fintechs, start-ups, e-commerce players and corporates, across the country to continue all their banking, digitally and from a remote location, without visiting a bank branch or office. In the recent tie-ups with payment fintechs too, it was the wide array of services, APIs and volume handling capability available within the ‘ICICI Stack’ that enabled
quick integrations overnight. We believe that in these challenging times, ‘ICICIStack’ is well poised and committed to support customers for all their banking requirements.”

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 softwares, 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 Paylater. 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 roboadvisory for mutual fund investments, real time investment updates and any channel servicing. Also offers value 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.

With ICICIStack, the customers can avail of these services from home or remote location, without visiting the Bank branch. With this, retail customers can enjoy enhanced convenience, while business customers can continue to improve productivity even when they are away from office in this time of ‘Social Distancing’.

A non-ICICI Bank retail customer can get the benefits of ‘ICICIStack ’ by simply opening an instant savings account with the Bank digitally, without having to visit the branch. A business entity, in case it is a non-customer of the Bank, can download ‘InstaBIZ’, the Bank’s mobile application specially curated for businesses, and enjoy the un-paralleled convenience using ‘ICICIStack’. It can also apply for a current account instantly and customize its account number, which is displayed instantly. Additionally, the business entities can get access to easy bulk collection & payments of funds through multiple digital modes, automatic bank reconciliation and can undertake largely all of the export-import transactions like inward and outward remittances among others digitally.


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About ICICI Bank: ICICI Bank Ltd (BSE: ICICIBANK, NSE: ICICIBANK and NYSE: IBN) is a leading private sector bank in India. The Bank’s consolidated total assets stood at ₹13,04,911 crores at December 31, 2019. ICICI Bank's subsidiaries include India's leading private sector insurance, asset management and securities brokerage companies. It is present across 15 countries, including India.

Certain statements in this release relating to a future period of time (including inter alia concerning our future business plans or growth prospect s) are forward - looking statements intended to qualify for the 'safe harbor' under applicable securities laws including the US Private Securities Litigation Reform Act of 1995. Such forward - looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward - looking statements. These risks and uncertainties include, but are not limited to statutory and regulatory changes, international economic and business conditions; political or economic instability in the jurisdictions where we have operations, increase in non - performing loans, unanticipated changes in interest rates, foreign exchange rates, equity prices or other rates or prices, our growth and expansion in business, the adequacy of our allowance for credit losses, the actual growth in demand for banking products and services, investment income, cash flow projections, our exposure to market risks, changes in India’s sovereign rating, as well as other risks detailed in the reports fi led by us with the United States Securities and Exchange Commission. Any forward looking statements contained herein are based on assumptions that we believe to be reasonable as of the date of this release. ICICI Bank undertakes no obligation to update forward - looking statements to reflect events or circumstances after the date thereof. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission. These filings are available at

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