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ICICI Bank partners Alibaba to provide trade finance for Indian SMEs

Friday 26 June 2015 10:34 CET | News

ICICI Bank, an Indian private sector bank, has unveiled its association with Alibaba.com for the launch of the Trade Facilitation Center, a single window facility to provide trade finance to the small and medium enterprises in India.

The collaboration for Trade Facilitation Center will enable the Indian entrepreneurs who are members of Alibaba.com to get access to an array of integrated business services from ICICI Bank including business loans, cash management solutions, foreign exchange transactions, bank guarantees and cross-border remittances, in addition to privileges and discounts.

This cooperation comes close on the heels of a slew of technology-led services launched by ICICI Bank. The list includes new apps for mobile banking, automated and Touch Banking branches, Tab Banking, banking on Facebook and Twitter, contactless debit and credit cards, and ‘Pockets’, a digital bank on mobile phone.


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Keywords: ICICI, Alibaba, trade finance, Indian, SMEs, Trade Facilitation Center, small and medium enterprises, India, business loans, cash management, cross-border remittances
Categories: Banking & Fintech | E-invoicing, SCF & E-procurement
Countries: World
This article is part of category

Banking & Fintech