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With Trade APIs, make trade transactions seamless with a direct communication channel linking your ERP to ICICI Bank’s internal systems
Reduce transaction initiation time
Auto-reconciliation for the transactions initiated
Focus on business growth.
To connect with us, mail us at tradeapisupport@icicibank.com
ICICI Bank Trade API Suite
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 the clients achieve this by entirely reforming the traditional human interaction to system-based 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 the client’s ERP and ICICI Bank’s internal systems. We help clients save time by bringing down the transaction initiation time from 10-15 minutes to a few seconds!
Document Flow
We leverage Intelligent Automation to align the document transfer channel with the API transaction request from the Client’s ERP, 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 customer experience.
Status Enquiry
Clients can fetch transaction status in just a few clicks and get real-time updates in their ERP, thus eliminating manual follow-up and saving time.
Secured Banking
Trade APIs allow end-to-end encryption of transaction data from the Client’s ERP to ICICI Bank’s server.
Explore Trade APIs
Here is the exhaustive list of our continually expanding set of Trade APIs:
Remittance
Clients can easily initiate remittance transactions to beneficiaries abroad, for any permissible Purpose Codes declared under FEMA. In addition, clients can also seamlessly initiate settlement request for inwards received.
Letter of Credit
Issued at the client’s request to assure payment to the supplier up to a stated amount, within a prescribed time. ICICI Bank offers both Limit Backed and Cash Backed LCs over APIs.
Bills
Clients can digitally receive and accept the presented bills. Also, it enables clients to initiate payments for accepted bills before due date.
Bank Guarantee
Bank offers surety for different business obligations on behalf of the client, within certain regulations. ICICI Bank offers both Limit Backed and Cash Backed BGs over APIs.
Status Enquiry
Clients can enquire about the transactional status, list of limits and FDs linked to their account.
e-DOCS
Processing of Export Bill Lodgement & Regularisation for all direct exports/advance payments against outstanding shipping bills.
i-DOCS
Clients can fetch and make the payments in bulk against the corresponding outstanding Bill of Entries.
Specialized Products
e-LC: Client receives the export LC/Standby Letter of Credit (SBLC) information along with the non-negotiable LC copy as soon as they get advised in the Bank’s core system.
e-BG: Authentication of Bank Guarantees received in the client’s favour.
EEFC to INR Conversion: Enables clients to get conversion of the Foreign Currency from their EEFC Account to the Current Account.
Post Facto
Clients can realise the lodged shipping bills with the settled inward remittances to knock off the outstanding bills in Export Data Processing and Monitoring System (EDPMS).
i-BOE
Clients can fetch the Bill of Entries (BoE) available for utilisation and map them with the Outward Remittances to close the outstanding BoE in Import Data Processing and Monitoring System (IDPMS).
On-boarding Process
We aim to create simplified and enhanced customer experience, which starts with seamless on-boarding for the clients:
1. On-boarding on ICICI Bank API Gateway*
2. Customising & Developing API**
3. Sandbox UAT^
4. Executing Live API Transaction^^
*On-boarding on ICICI Bank API Gateway and choosing the desired API Product.
**Customising & Developing Field-wise Specifications on the client’s ERP for the respective API product chosen by the client for consumption.
^Initiate a Sandbox UAT on the Developer Portal ICICI Bank API Gateway or any other application that the client is comfortable with (Postman, etc.).
^^The client executes the live transaction using API.
THE ICICI BANK ADVANTAGE
4-Step Simple Client On-boarding Process
Safe and Secure Banking
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 transactions.
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 journey
FAQ's
API stands for Application Programming Interface, which is a way to send/receive data across systems or servers.
Our APIs facilitate an end-to-end journey from transaction initiation to reconciliation of transactional data. Trade transactions are data & document-heavy. APIs make transaction initiation faster, leading to reduced turnaround time and also ensure safety and security of data through industry standard encryption methods.
ICICI Bank offers a robust framework and dedicated teams to develop the APIs, reinforced with the Bank’s experience in the trade finance domain. ICICI Bank Trade API Suite covers a majority of the products involved in Transaction Banking. Trade API Suite is a one-stop shop for all trade transaction related APIs with auto-reconciliation enabled.
