ICICI Bank launches a digital platform for the student ecosystem

By Leandra Monteiro

ICICI Bank announced the launch of a digital platform to address the needs of the students aspiring to pursue higher education in India and abroad. Called ‘Campus Power’, the one-stop platform caters to varied needs of the entire student ecosystem comprising students, parents and institutes. It offers both banking and value-added solutions at one place, eliminating the need for the student ecosystem to contact with multiple stakeholders. It is available for anyone including customers of other banks.

‘Campus Power’ assists users to explore financial products matching their needs ranging from bank accounts including overseas accounts, education loan and its tax benefit, foreign exchange solutions, payment solutions, cards, other loans and investments. Further, the platform provides information regarding a host of value-added services related to higher studies in India and foreign countries including Canada, UK, Germany, USA and Australia. The empanelled partners provide the value-added services on courses/ universities, destinations, admission counselling, test preparation, overseas accommodation and travel assistance.

Speaking on the launch, Sudipta Roy, Head – Unsecured Asset, ICICI Bank said, “We at ICICI Bank, believe in customer centricity and constantly try to enhance our offerings with the evolving market expectations. We have observed the education lifecycle in depth to understand diverse needs of students in various stages of their life. We have found out from our research that students, their parents and institutions grapple with the challenge of interacting with multiple stakeholders to resolve issues related to their higher studies. This assumes importance with increasing number of students opting for higher studies in India and abroad. Hence, we have decided to launch ‘Campus Power’ to bring all education related services under one umbrella.

We are launching ‘Campus Power’ just before the start of the fall season abroad and beginning of the next academic year in India. This initiative caters to the student ecosystem by providing them with digital, personalised and comprehensive solutions. We believe that the benefits of our products and services should be available to all students and their parents, irrespective of whether they are ICICI Bank customers or not. With this launch, we wish to provide a holistic experience to the students and their parents and assist them in fulfilling their dreams.”

In order to complement the digital efforts, ICICI Bank is setting up branches dedicated to the student ecosystem. The first branch has been set up at IIT Kanpur and seven more will be added in the campus of top premier institutes across the country. These full-service branches house multi-functional teams with rich expertise to cater to the entire student ecosystem efficiently.

The ‘Campus Power’ offers a host of banking as well as value-added features to students, parents and institutes:

• It offers 360-degree curated solutions to students who are aspiring to go for higher studies in India and abroad. The services include funding education, assistance on finding out the course and the university, helping students to prepare themselves for tests, offering debit/credit cards and creating overseas student account.
• To support the child’s education journey, ‘Campus Power’ offers parents with education loans and remittance services. Moreover, it has other solutions for them in terms of savings account, investment products, travel and health insurance.
• It provides institutes and international schools with various products and services under one umbrella to facilitate all the financial needs including funding, payments, collections, investments and insurance.