ICICI Bank launches Digital solutions for participants of capital market

ICICI Bank on Thursday launched an array of digital solutions for participants of the capital market and clients of custody services. The solutions enable various participants in the sector including stock brokers, portfolio management service (PMS) providers, foreign portfolio investors (FPIs), foreign direct investors (FDIs), and alternative investment funds (AIF) to seamlessly meet all their banking requirements. 

The bank has launched these solutions to offer expeditious onboarding and convenience to all participants of the Indian capital market which has seen significant growth in the last few years. The newly launched ‘3-in-1’ account enables the clients of stock brokers to digitally open online trading, demat and savings account in few hours from anywhere across the country. 

The facility empowers stock brokers to integrate their trading and depository systems with the bank through API, providing them with the advantage of real time information on availability of investor funds. 

The bank has also enabled providers of PMS services to digitally open savings account and demat account in a single working day, significantly reducing onboarding and activation time. 

Additionally, the bank has launched a digital platform for onboarding and registration of FPIs/ FDIs from any country across the globe. The platform helps FPIs/ FDIs to upload documents and information seamlessly for pre-verification, thereby paring the registration and onboarding time down to a few days.