Shares of this bank touched an all-time high post partnering with TCS; do you own it?
This first-of-its-kind platform digitizes the entire lending process, from application to disbursement for everyone
On Tuesday, ICICI bank and TCS, announced the launch of ‘iLens’, a digital lending solution, powered by the TCS lending platform. Post the announcement, shares of ICICI bank jumped over 1.3 per cent and touched an all-time high level of Rs 949.90.
‘iLens’, which stands for ICICI Bank Lending Solutions, is powered by the TCS Lending Platform and is customized with ICICI Bank’s proprietary policies for loans, data-led algorithms and over 130 API integrations including with fintechs, enabling quicker credit assessment, property appraisals, legal and technical documentation. Based on these, many of the new-to-bank customers will also be given pre-approved offers—yet another industry-first initiative.
This first-of-its-kind platform digitizes the entire lending process, from application to disbursement for everyone, including new-to-bank customers, to offer them unparalleled convenience with faster turnaround of loan applications, greater transparency of loan status and an enriching experience.
ICICI Bank is a large private sector bank in India offering a diversified portfolio of financial products and services to retail, SME and corporate customers. The Bank has an extensive network of branches, ATMs and other touch-points. The company has shown positive traction this year with the stock rising 24 per cent on YTD basis.
Keep a close eye on this trending banking stock.