ICICI Bank gains on launching digital lending solution ‘iLens’

ICICI Bank is currently trading at Rs. 946.30, up by 9.85 points or 1.05% from its previous closing of Rs. 936.45 on the BSE.

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The scrip opened at Rs. 933.70 and has touched a high and low of Rs. 949.90 and Rs. 933.70 respectively. So far 241852 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 949.90 on 29-Nov-2022 and a 52 week low of Rs. 642.00 on 07-Mar-2022.

Last one week high and low of the scrip stood at Rs. 949.90 and Rs. 924.00 respectively. The current market cap of the company is Rs. 661988.64 crore.

The Institutions and Non-Institutions held 89.73% and 10.28%, stake in the Bank respectively.

ICICI Bank has launched ‘iLens’, a digital lending solution, powered by the Tata Consultancy Services (TCS) lending platform. The 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 enriched experience.

To begin with, ‘iLens’ has started empowering customers, including new-to-bank individuals, to avail housing loans in a completely digital process with hassle-free on-boarding via paperless login, uploading documents, receiving instant sanctions, appraising properties, and disbursement of loans. ICICI Bank plans to offer other retail loans such as personal, auto and credit cards on this platform.

‘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.

ICICI Bank is a leading private sector bank in India.

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