Share Market Live

NSE

ICICI Bank and Tata Consultancy Services (TCS) on Tuesday announced the launch of a digital lending solution ‘iLens’, which will digitise the entire lending process for the bank's customers. ICICI Bank Lending Solutions (iLens) is powered by the TCS Lending Platform.

iLens enables new-to-bank individuals to avail of housing loans in a digital manner with hassle-free onboarding via paperless login, uploading documents, instant sanctions, appraising properties, and disbursement of loans.

ICICI Bank plans to offer retail lending services such as personal loans, auto loans, and credit cards through this platform.

The platform enables seamless onboarding of customers with minimal data entry, and digital credit assessment of the borrower by tapping into various data sources through API integrations, and video KYC.

In addition, it has an inbuilt customer interface that assists borrowers to track the status of their loan application on a real-time basis and digitally fulfilling additional paperwork requirements and fee payments.

Its open API architecture enables the back-office processing to be seamlessly integrated with third parties such as legal counsel and property evaluators to eliminate paperwork. iLens is also equipped with inbuilt e-sign, e-NACH, and e-stamp features, which enable swift disbursal of the loan.

Shares of ICICI Bank ended 1 percent higher at Rs 946.85.