Representational photograph
| Photo Credit: REUTERS
ICICI Bank has introduced the introduction digital solutions for contributors of the capital market and purchasers of custody providers.
“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 financial institution stated.
The newly unveiled ‘3-in-1’ account permits the purchasers of inventory brokers to digitally open on-line buying and selling, demat and financial savings account in few hours from wherever throughout the nation. “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,” ICICI financial institution stated.
Sumit Sanghai, Head- Large Clients Group, ICICI Bank stated, “The digital set of solutions launched by the bank will help the participants of the capital market and custody services meet regulatory requirements, significantly decongest manual processes, thereby improving their operational efficiency and scalability in business.”
