Private lender ICICI Bank has launched an API banking portal, consisting of the maximum number of virtual APIs (application programming interfaces) clubbed by any Indian bank.
This portal enables partner companies to co-create customer solutions in a frictionless way and in a fraction of time usually needed for such integration. APIs are a set of instructions, which enable third-party applications to connect with the bank’s various technology applications and collaborate to ensure in new customer propositions.
The ‘ICICI Bank API Banking portal’, which comprises of 250 APIs, enables developers of prospective partner companies around the globe to sign up on it, create an application, select the application, test it out and get the sample code. With this, businesses, fintechs, corporates and ecommerce startups can partner with the bank and co-create innovative customer solutions in a frictionless manner, all from the convenience of a single portal. The usage of ‘ICICI Bank API Banking Portal’ streamlines the process of digital collaboration for a partner company with the bank and slashes the time taken to develop a business solution to a few days.
The APIs are available across a variety of categories namely payments & collections like IMPS, UPI payment/collection, accounts & deposits and cards and loans. After testing the solution on the sandbox environment, developers can level-up to the UAT environment for an end to end real-time testing, post-signing an NDA with the bank. Besides, the portal incorporates a detailed workflow for conveniently moving the API solution to the final production stage.
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