ICICI Bank has launched an API Banking Portal, including the largest number of virtual APIs by any Indian bank. This portal will enable partner companies to co-create innovative customer solutions in a frictionless manner, in lesser than usual time taken for such integration.
The ICICI Bank API Banking portal, which consists of 250 APIs, enables developers to seamlessly sign up on it, create, select , and test an application and get the sample code. With this, businesses, fin-techs, corporates and e-commerce start-ups can easily partner with the Bank and co- create innovative customer solutions in a frictionless manner. The usage of ‘ICICI Bank API Banking Portal’ simplifies the process of digital collaboration for a partner company with the Bank and reduces the time taken to develop a business solution to a few days. Fintech
The APIs are available across an array of categories including payments and collections like IMPS, UPI payment/collection, accounts & deposits and cards & loans. After testing the solution on the sandbox environment, developers can upgrade to the UAT environment for end to end real-time testing, post signing an NDA with the Bank. Additionally, the portal incorporates a detailed workflow for conveniently moving the API solution to the final production stage, thereby eliminating the hassles of manual to and fro.
The ‘ICICI Bank API Banking portal launch is a step towards bringing in the benefits of ‘Open Banking’ in the industry, which is regarded as a key enabler to drive speedy tie ups and digitisation in the country.
Key Benefits Offered:
- Largest range of APIs: Diverse range of nearly 250 APIs across financial and non-financial categories
- Unique ‘One-Stop-Spot’ for integrating APIs: The portal caters to requirements of all types of entities – businesses, technology developers and aggregators and offers a single place for designing, testing and going live with their business solution, an industry first.
- Pares time, enhances productivity: Reduces the time taken by prospective partner companies and its developers to be able to integrate the APIs to their business solutions to just few weeks to few days thereby enhancing productivity
- Convenient access to APIs: Makes ‘API Banking’ accessible to a large number of prospective partner companies and developers simultaneously and enables them to partner with the cutting edge technology offered by ICICI Bank
- Detailed workflows for ease of integration: The portal offers a detailed step-by-step workflow to bring in ease and quick understanding of API working and scenarios for developers.