ICICI Bank has unveiled Trade Emerge, an online platform to offer digital banking and value-added services to exporters and importers across India. The initiative is aimed at making cross border trade hassle-free, expeditious and convenient, the lender said.
The list of banking services includes current / saving account offerings, trade services (Letter of Credit / Bank Guarantee / Trade Credit), digital solutions like Corporate Internet Banking and Trade Online, foreign exchange solutions, payment and collection solutions and credit cards.
The list of value-added services includes 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 credit bureaus, logistics solutions for shipment booking and last mile tracking, and insurance services like marine insurance all available online through a single window.
These services will be 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 our 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 our customers,” she added.