ICICI Bank Trade APIs
Most firms today want to establish a unique competitive advantage by achieving an integrated supply chain. ICICI Bank has developed future ready solutions to help our clients achieve this by entirely reforming the traditional human to system interaction that happens in the course of business. ICICI Bank introduces Trade APIs to make trade transactions seamless by establishing a direct communication channel linking client’s ERP and ICICI’s internal systems. The time saving that we impart to our immense is monumental, bringing down transaction processing time, which would normally take 10-15 minutes to a few seconds!
We leverage intelligent automation to synergise the document transfer channel with the API transaction request which results in a hassle-free document flow.This streamlines the flow of information from the client to the bank
Wide-ranging Product APIs
To support trade transactions, ranging from export, import to remittances, in a bid to create an ecosystem of APIs for a simplified and enhanced consumer experience
Our customers can access transaction status enquiry in just a few clicks and get real time updates, thus eliminating manual follow up and saving time
Trade APIs allow end-to-end encryption of transaction data from customer’s ERP to ICICI Server
We aim to create simplified and enhanced consumer experiences, which
starts with a seamless onboarding for our clients:
1. Onboarding on IXpress Connect.
2. Customizing & Developing API.
3. Sandbox UAT testing.
4. Client executes Live API.
*Onboarding On IXpress Connect (Our API Channel) And Choosing The Desired API Product On Which The Client Wants To Be Onboarded On
**Customizing & Developing Field-Wise Specifications On The Client's ERP For The Respective API Product Chosen By The Client For Consumption
***Sandbox UAT Testing Of The Chosen API Product On Our Developer Portal IXpress Connect Or, Any Other Application Client Is Comfortable With (Postman Etc.). This Is Followed By Whitelisting Of Client's Server At ICICI’s End
The Client Executes The Live Transaction Using API
Explore Trade APIs
Here is a list of our continually expanding set of Trade APIs:
Customers can easily initiate remittance transaction for the beneficiaries abroad for any permissible Purpose Code declared by FEMA. In addition, clients can also seamlessly initiate settlement request for inwards received.
Letter of Credit
Issued at client’s request to assure payment to the supplier up to a stated amount, within a prescribed time. ICICI offers both Limit Backed and Cash Backed LCs over APIs.
Corporates can digitally receive bill presentation and accept the presented bills. Also, it enables clients to initiate payments for accepted bill before due date.
Bank offers surety for different business obligations on behalf of the customer within certain regulations. ICICI offers both Limit Backed and Cash Backed BGs over APIs.
Customer is empowered to query about the transactional status, list of limits and list of FDs linked to their account.
Processing of Export Bill Lodgment & regularization for all direct exports/advance payments against outstanding shipping bills.
Customers can process bulk Bill of Entries (BoE) hassle-free and clients can regularize the outstanding BoEs against remittances initiated earlier.
e-LC: Corporate client receives the LC/SBLC information as soon as they get advised in the bank’s core system.
e-BG: Authentication of Bank Guarantees received in customer’s favor.
EEFC to INR Conversion
THE ICICI BANK ADVANTAGE
4-Step Simple Client Onboarding Process
Exhaustive List Of APIs
Encompassing Trade Transactions
Ensuring End-To-End Reconciliation
WE ARE HERE TO SIMPLIFY TRADE
Our Trade APIS have taken digitisation in trade a step further and are now Shaping how clients perform trade Transations
1. Minimising human effort and manual error by eliminating double data entry
2. Improved turnaround time
3. Improved transparency of transactions
4. Auto reconciliation
5. Streamlined transaction processing
API stands for Application Programming Interface; it is a new way to send/receive data across systems or servers.
Our APIs facilitate end-to-end journey from transaction initiation to reconciliation of transactional data. Trade transactions are data heavy in nature and data transferred across platforms is confidential. API makes transaction initiation faster, which leads to many folds reduction in TAT, also ensuring safety and security of data through encryptions.
ICICI Bank offer robust framework and dedicated teams to develop the APIs, reinforced with bank’s experience in trade finance domain. ICICI Bank’s Trade API suite covers majority of the steps involved in trade banking transactions. Trade API suite is envisaged to become a one stop shop for all the trade transactions related APIs.