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ICICI Bank’s Stack aims to boost real-estate sector in India
January 18, 2023
To cover the entire life-cycle of stakeholders, ICICI Bank took an ecosystem approach. The stakeholders include not only buyers and builders, but also Alternate Investment Funds (AIFs), Real-Estate Investment Trusts (REITs), and other related entities. STACK is designed to account for everyone.
STACK is a first-of-its-kind initiative offering 360 degree solution for the entire real estate ecosystem. It starts with the needs of the homeowner, focusing on areas like pre-approved home loans with competitive rates and instant digital sanctioning. For developers, STACK helps in opening RERA accounts digitally, and includes customised collection solutions for pre- and post-launch management of projects, including a single dashboard for seamless collection and refund of all the projects.
Other aspects such as construction finance and lease rental discounting are also covered. Primarily, both customers and developers benefit from the speed and convenience that STACK offers them. It is very quick and we are leveraging the technology to see how we can create value for the customer. For example, we offer services like digital collection, reconciliation, and surplus distribution as add-on offerings for REITs and AIFs.
Important Links:
- 4-IN-1 Professional Diploma in Banking, Financial Services & Insurance (PDBFSI): https://tscfm.org/courses/4-in-1-professional-diploma-in-banking-financial-services-insurance-pdbfsi/