{"id":533592,"date":"2022-04-29T08:48:25","date_gmt":"2022-04-29T08:48:25","guid":{"rendered":"https:\/\/ibsintelligence.com\/?post_type=ibsi_news&p=533592"},"modified":"2022-04-29T08:48:25","modified_gmt":"2022-04-29T08:48:25","slug":"icici-bank-launches-comprehensive-digital-ecosystem-for-msmes","status":"publish","type":"ibsi_news","link":"https:\/\/ibsintelligence.com\/ibsi-news\/icici-bank-launches-comprehensive-digital-ecosystem-for-msmes\/","title":{"rendered":"ICICI Bank launches comprehensive digital ecosystem for MSMEs"},"content":{"rendered":"

\"ICICI<\/a>ICICI Bank announced that it has launched India\u2019s first comprehensive digital ecosystem for all Micro, Small and Medium Enterprises (MSMEs) in the country, including customers of other banks. The ecosystem has three pillars: i) enhanced banking services for existing customers, ii) a bouquet of banking services to MSMEs, who are customers of other banks, iii) a whole range of value-added services for all. The ecosystem, which offers an array of solutions, brings forth a significant shift from the existing industry practice where banks offer services only to their customers.<\/p>\n

Anyone can avail of the benefits of ICICI Bank\u2019s<\/a> digital solutions by simply downloading the new version of the InstaBIZ app, a super app for businesses, from Google Play Store or Apple App Store, or at the Bank\u2019s Corporate Internet Banking (CIB) platform.<\/p>\n

Speaking on the launch, Anup Bagchi, Executive Director, ICICI Bank<\/strong> said, \u201cWe at ICICI Bank always believe that the MSME segment forms the backbone of the Indian economy. It has been our philosophy to enhance \u2018ease of doing business\u2019 for MSMEs and become partners in their growth.<\/p>\n

We have found out from our research that MSMEs understand the benefits that technology brings in. They are keen to adopt digital solutions to simplify their way of doing business so that they can focus more on growth. MSMEs also need a holistic platform which meets all their requirements. Further, we believe that the benefits of our products and services should not be restricted only to our customers; those who bank with others should also have the choice to experience them.<\/p>\n

Based on these insights, we have launched a comprehensive digital ecosystem with open architecture by bundling banking services with value-added offerings to empower MSMEs, estimated to be around six crores. We believe that these solutions for MSMEs will improve efficiency and boost their business.\u201d<\/p>\n

MSMEs, who are customers of other banks, can avail of a host of services from the Bank\u2019s digital ecosystem by logging in as a \u2018Guest\u2019 in the new version of InstaBIZ. The most important in the list of these services is the sanction of instant and paperless overdraft facility up to INR 25 lakh. Named \u2018InstaOD Plus\u2019, the industry-first proposition enables customers of any bank to avail of an overdraft instantly through a few clicks either on the new version of InstaBIZ or CIB. Customers of ICICI Bank can activate the OD into their current account instantly while customers of other banks can do so after the opening a current account with the Bank digitally through Video KYC.<\/p>\n

Another important facility being offered is instant opening of a current account digitally. The end-to-end paperless process leverages the Bank\u2019s advanced APIs that auto-fill the account opening form and validate PAN\/ Aadhaar number instantly and allows the opening of an account through Video KYC.<\/p>\n

Additionally, to further accelerate growth and efficiency for MSMEs, InstaBIZ now offers a range of value-added services to MSMEs, both customers and non-customers of the Bank. ICICI Bank has tied up with various partners to eliminate the need of MSMEs to coordinate with multiple experts to fulfill their varied requirement. These partners include India Filings (for business compliances and registrations), IndiaMART (listing of business), Airtel (connectivity and business communications), ClearTax (tax filing and advisory), Zoho Books (accounting solutions), Global Linker (business networking and digital store management), Sherlock.ai (digital marketing and data analytics). MSMEs can get exclusive services of these experts with instant onboarding on their platforms.<\/p>\n

Further, MSMEs, both customers and non-customers of the Bank, can also access the Bank\u2019s digital platform, Trade Emerge, for comprehensive trade services like letter of credit, bank guarantee, trade credit, trade transactions and many others.<\/p>\n

Additionally through InstaBIZ, merchants, retailers and professionals like doctors and lawyers etc can instantly accept payments through UPI and cards. They can generate QR code and even digitally apply for Point of Sale (POS) device. They can also avail value added services like instant settlement of payments, transform their shops into an online store in just 30 minutes, and apply for a voice-messaging device that confirms the receipt of the payments.<\/p>\n","protected":false},"author":16,"featured_media":519669,"parent":0,"template":"","categories":[11376,11384],"tags":[12410,11409,13500,11404,23106,11418,16157,12534,19946,25953],"class_list":["post-533592","ibsi_news","type-ibsi_news","status-publish","has-post-thumbnail","hentry","category-digital-banking","category-payments","tag-digital-ecosystem","tag-digital-transformation","tag-icici-bank","tag-india","tag-instabiz","tag-instant-payments","tag-msmes","tag-payments-processing","tag-trade-emerge","tag-video-kyc"],"acf":[],"yoast_head":"\nICICI Bank launches comprehensive digital ecosystem for MSMEs<\/title>\n<meta name=\"description\" content=\"ICICI Bank announced that it has launched India\u2019s first comprehensive digital ecosystem for all Micro, Small and Medium Enterprises (MSMEs)\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ibsintelligence.com\/ibsi-news\/icici-bank-launches-comprehensive-digital-ecosystem-for-msmes\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ICICI Bank launches comprehensive digital ecosystem for MSMEs\" \/>\n<meta property=\"og:description\" content=\"IBS Intelligence (IBSi) is the world\u2019s only pure-play Financial Technology focused research, advisory, and fintech news analysis firm, with a 30-year track record and clients globally. We take pride in covering 400+ technology vendors globally \u2013 the largest by any analyst firm in this space.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ibsintelligence.com\/ibsi-news\/icici-bank-launches-comprehensive-digital-ecosystem-for-msmes\/\" \/>\n<meta property=\"og:site_name\" content=\"IBS Intelligence\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/ibsintelligence.cmc\/\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ibsintelligence.com\/wp-content\/uploads\/2021\/09\/ICICI-Bank-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"400\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:site\" content=\"@IBSIntelligence\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/ibsintelligence.com\/ibsi-news\/icici-bank-launches-comprehensive-digital-ecosystem-for-msmes\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/ibsintelligence.com\/ibsi-news\/icici-bank-launches-comprehensive-digital-ecosystem-for-msmes\/\"},\"author\":{\"name\":\"Leandra Monteiro\",\"@id\":\"https:\/\/ibsintelligence.com\/#\/schema\/person\/a25006eaee3b72fda152942651ea5662\"},\"headline\":\"ICICI Bank launches comprehensive digital ecosystem for MSMEs\",\"datePublished\":\"2022-04-29T08:48:25+00:00\",\"dateModified\":\"2022-04-29T08:48:25+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ibsintelligence.com\/ibsi-news\/icici-bank-launches-comprehensive-digital-ecosystem-for-msmes\/\"},\"wordCount\":691,\"publisher\":{\"@id\":\"https:\/\/ibsintelligence.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/ibsintelligence.com\/ibsi-news\/icici-bank-launches-comprehensive-digital-ecosystem-for-msmes\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/ibsintelligence.com\/wp-content\/uploads\/2021\/09\/ICICI-Bank-1.jpg\",\"keywords\":[\"Digital Ecosystem\",\"Digital Transformation\",\"ICICI Bank\",\"India\",\"InstaBIZ\",\"Instant Payments\",\"MSMEs\",\"Payments Processing\",\"Trade Emerge\",\"Video KYC\"],\"articleSection\":[\"Digital Banking\",\"Payments\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ibsintelligence.com\/ibsi-news\/icici-bank-launches-comprehensive-digital-ecosystem-for-msmes\/\",\"url\":\"https:\/\/ibsintelligence.com\/ibsi-news\/icici-bank-launches-comprehensive-digital-ecosystem-for-msmes\/\",\"name\":\"ICICI Bank launches comprehensive digital ecosystem for MSMEs\",\"isPartOf\":{\"@id\":\"https:\/\/ibsintelligence.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/ibsintelligence.com\/ibsi-news\/icici-bank-launches-comprehensive-digital-ecosystem-for-msmes\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/ibsintelligence.com\/ibsi-news\/icici-bank-launches-comprehensive-digital-ecosystem-for-msmes\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/ibsintelligence.com\/wp-content\/uploads\/2021\/09\/ICICI-Bank-1.jpg\",\"datePublished\":\"2022-04-29T08:48:25+00:00\",\"dateModified\":\"2022-04-29T08:48:25+00:00\",\"description\":\"ICICI Bank announced that it has launched India\u2019s first comprehensive digital ecosystem for all Micro, Small and Medium Enterprises (MSMEs)\",\"breadcrumb\":{\"@id\":\"https:\/\/ibsintelligence.com\/ibsi-news\/icici-bank-launches-comprehensive-digital-ecosystem-for-msmes\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ibsintelligence.com\/ibsi-news\/icici-bank-launches-comprehensive-digital-ecosystem-for-msmes\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ibsintelligence.com\/ibsi-news\/icici-bank-launches-comprehensive-digital-ecosystem-for-msmes\/#primaryimage\",\"url\":\"https:\/\/ibsintelligence.com\/wp-content\/uploads\/2021\/09\/ICICI-Bank-1.jpg\",\"contentUrl\":\"https:\/\/ibsintelligence.com\/wp-content\/uploads\/2021\/09\/ICICI-Bank-1.jpg\",\"width\":400,\"height\":400,\"caption\":\"ICICI Bank, digital banking\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ibsintelligence.com\/ibsi-news\/icici-bank-launches-comprehensive-digital-ecosystem-for-msmes\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ibsintelligence.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"ICICI Bank launches comprehensive digital ecosystem for MSMEs\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ibsintelligence.com\/#website\",\"url\":\"https:\/\/ibsintelligence.com\/\",\"name\":\"IBS Intelligence\",\"description\":\"Financial Technology News & FinTech Research\",\"publisher\":{\"@id\":\"https:\/\/ibsintelligence.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ibsintelligence.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ibsintelligence.com\/#organization\",\"name\":\"IBS Intelligence\",\"url\":\"https:\/\/ibsintelligence.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ibsintelligence.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ibsintelligence.com\/wp-content\/uploads\/2022\/03\/logo.png\",\"contentUrl\":\"https:\/\/ibsintelligence.com\/wp-content\/uploads\/2022\/03\/logo.png\",\"width\":299,\"height\":80,\"caption\":\"IBS Intelligence\"},\"image\":{\"@id\":\"https:\/\/ibsintelligence.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/ibsintelligence.cmc\/\",\"https:\/\/x.com\/IBSIntelligence\",\"https:\/\/www.instagram.com\/ibsintelligence\/\",\"https:\/\/www.linkedin.com\/company\/ibs-intelligence\/\",\"https:\/\/www.youtube.com\/channel\/UCLkzPazySerR8DzKFeFFGmw\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/ibsintelligence.com\/#\/schema\/person\/a25006eaee3b72fda152942651ea5662\",\"name\":\"Leandra Monteiro\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ibsintelligence.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/969579777895e194275e65d314f361157b2b4d4cb6abd3a718865305880be0a1?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/969579777895e194275e65d314f361157b2b4d4cb6abd3a718865305880be0a1?s=96&d=mm&r=g\",\"caption\":\"Leandra Monteiro\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"ICICI Bank launches comprehensive digital ecosystem for MSMEs","description":"ICICI Bank announced that it has launched India\u2019s first comprehensive digital ecosystem for all Micro, Small and Medium Enterprises (MSMEs)","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ibsintelligence.com\/ibsi-news\/icici-bank-launches-comprehensive-digital-ecosystem-for-msmes\/","og_locale":"en_US","og_type":"article","og_title":"ICICI Bank launches comprehensive digital ecosystem for MSMEs","og_description":"IBS Intelligence (IBSi) is the world\u2019s only pure-play Financial Technology focused research, advisory, and fintech news analysis firm, with a 30-year track record and clients globally. We take pride in covering 400+ technology vendors globally \u2013 the largest by any analyst firm in this space.","og_url":"https:\/\/ibsintelligence.com\/ibsi-news\/icici-bank-launches-comprehensive-digital-ecosystem-for-msmes\/","og_site_name":"IBS Intelligence","article_publisher":"https:\/\/www.facebook.com\/ibsintelligence.cmc\/","og_image":[{"width":400,"height":400,"url":"https:\/\/ibsintelligence.com\/wp-content\/uploads\/2021\/09\/ICICI-Bank-1.jpg","type":"image\/jpeg"}],"twitter_card":"summary_large_image","twitter_site":"@IBSIntelligence","twitter_misc":{"Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/ibsintelligence.com\/ibsi-news\/icici-bank-launches-comprehensive-digital-ecosystem-for-msmes\/#article","isPartOf":{"@id":"https:\/\/ibsintelligence.com\/ibsi-news\/icici-bank-launches-comprehensive-digital-ecosystem-for-msmes\/"},"author":{"name":"Leandra Monteiro","@id":"https:\/\/ibsintelligence.com\/#\/schema\/person\/a25006eaee3b72fda152942651ea5662"},"headline":"ICICI Bank launches comprehensive digital ecosystem for MSMEs","datePublished":"2022-04-29T08:48:25+00:00","dateModified":"2022-04-29T08:48:25+00:00","mainEntityOfPage":{"@id":"https:\/\/ibsintelligence.com\/ibsi-news\/icici-bank-launches-comprehensive-digital-ecosystem-for-msmes\/"},"wordCount":691,"publisher":{"@id":"https:\/\/ibsintelligence.com\/#organization"},"image":{"@id":"https:\/\/ibsintelligence.com\/ibsi-news\/icici-bank-launches-comprehensive-digital-ecosystem-for-msmes\/#primaryimage"},"thumbnailUrl":"https:\/\/ibsintelligence.com\/wp-content\/uploads\/2021\/09\/ICICI-Bank-1.jpg","keywords":["Digital Ecosystem","Digital Transformation","ICICI Bank","India","InstaBIZ","Instant Payments","MSMEs","Payments Processing","Trade Emerge","Video KYC"],"articleSection":["Digital Banking","Payments"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/ibsintelligence.com\/ibsi-news\/icici-bank-launches-comprehensive-digital-ecosystem-for-msmes\/","url":"https:\/\/ibsintelligence.com\/ibsi-news\/icici-bank-launches-comprehensive-digital-ecosystem-for-msmes\/","name":"ICICI Bank launches comprehensive digital ecosystem for MSMEs","isPartOf":{"@id":"https:\/\/ibsintelligence.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/ibsintelligence.com\/ibsi-news\/icici-bank-launches-comprehensive-digital-ecosystem-for-msmes\/#primaryimage"},"image":{"@id":"https:\/\/ibsintelligence.com\/ibsi-news\/icici-bank-launches-comprehensive-digital-ecosystem-for-msmes\/#primaryimage"},"thumbnailUrl":"https:\/\/ibsintelligence.com\/wp-content\/uploads\/2021\/09\/ICICI-Bank-1.jpg","datePublished":"2022-04-29T08:48:25+00:00","dateModified":"2022-04-29T08:48:25+00:00","description":"ICICI Bank announced that it has launched India\u2019s first comprehensive digital ecosystem for all Micro, Small and Medium Enterprises (MSMEs)","breadcrumb":{"@id":"https:\/\/ibsintelligence.com\/ibsi-news\/icici-bank-launches-comprehensive-digital-ecosystem-for-msmes\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ibsintelligence.com\/ibsi-news\/icici-bank-launches-comprehensive-digital-ecosystem-for-msmes\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ibsintelligence.com\/ibsi-news\/icici-bank-launches-comprehensive-digital-ecosystem-for-msmes\/#primaryimage","url":"https:\/\/ibsintelligence.com\/wp-content\/uploads\/2021\/09\/ICICI-Bank-1.jpg","contentUrl":"https:\/\/ibsintelligence.com\/wp-content\/uploads\/2021\/09\/ICICI-Bank-1.jpg","width":400,"height":400,"caption":"ICICI Bank, digital banking"},{"@type":"BreadcrumbList","@id":"https:\/\/ibsintelligence.com\/ibsi-news\/icici-bank-launches-comprehensive-digital-ecosystem-for-msmes\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ibsintelligence.com\/"},{"@type":"ListItem","position":2,"name":"ICICI Bank launches comprehensive digital ecosystem for MSMEs"}]},{"@type":"WebSite","@id":"https:\/\/ibsintelligence.com\/#website","url":"https:\/\/ibsintelligence.com\/","name":"IBS Intelligence","description":"Financial Technology News & FinTech Research","publisher":{"@id":"https:\/\/ibsintelligence.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ibsintelligence.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ibsintelligence.com\/#organization","name":"IBS Intelligence","url":"https:\/\/ibsintelligence.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ibsintelligence.com\/#\/schema\/logo\/image\/","url":"https:\/\/ibsintelligence.com\/wp-content\/uploads\/2022\/03\/logo.png","contentUrl":"https:\/\/ibsintelligence.com\/wp-content\/uploads\/2022\/03\/logo.png","width":299,"height":80,"caption":"IBS Intelligence"},"image":{"@id":"https:\/\/ibsintelligence.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/ibsintelligence.cmc\/","https:\/\/x.com\/IBSIntelligence","https:\/\/www.instagram.com\/ibsintelligence\/","https:\/\/www.linkedin.com\/company\/ibs-intelligence\/","https:\/\/www.youtube.com\/channel\/UCLkzPazySerR8DzKFeFFGmw"]},{"@type":"Person","@id":"https:\/\/ibsintelligence.com\/#\/schema\/person\/a25006eaee3b72fda152942651ea5662","name":"Leandra Monteiro","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ibsintelligence.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/969579777895e194275e65d314f361157b2b4d4cb6abd3a718865305880be0a1?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/969579777895e194275e65d314f361157b2b4d4cb6abd3a718865305880be0a1?s=96&d=mm&r=g","caption":"Leandra Monteiro"}}]}},"_links":{"self":[{"href":"https:\/\/ibsintelligence.com\/wp-json\/wp\/v2\/ibsi_news\/533592","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ibsintelligence.com\/wp-json\/wp\/v2\/ibsi_news"}],"about":[{"href":"https:\/\/ibsintelligence.com\/wp-json\/wp\/v2\/types\/ibsi_news"}],"author":[{"embeddable":true,"href":"https:\/\/ibsintelligence.com\/wp-json\/wp\/v2\/users\/16"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ibsintelligence.com\/wp-json\/wp\/v2\/media\/519669"}],"wp:attachment":[{"href":"https:\/\/ibsintelligence.com\/wp-json\/wp\/v2\/media?parent=533592"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ibsintelligence.com\/wp-json\/wp\/v2\/categories?post=533592"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ibsintelligence.com\/wp-json\/wp\/v2\/tags?post=533592"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}