ICICI Bank has launched a digital platform to meet the needs of students seeking higher education in India and abroad. Known as ‘Campus Power’, it provides both banking and value-added solutions in one place, eliminating the need for students to interact with multiple stakeholders. It is available to everyone, including customers of other banks.
The initiative helps users explore financial products that meet their needs, ranging from bank accounts, including foreign accounts, education loans and their tax benefits, currency solutions, payment solutions, cards, other loans and investments. It also provides information on value-added services related to higher education in India and other countries, including Canada, the UK, Germany, the US and Australia, the bank said.
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The empaneled partners provide the value-added services on courses, universities, destinations, admission advice, exam preparation, overseas accommodation and travel assistance. The bank has also set up a branch in IIT Kanpur and seven more will be added on the campus of leading leading institutes across the country, it added.
The services include financing education, help with course and university finding, helping students prepare for tests, offering debit/credit cards and creating a foreign student account. To support the child’s school trip, ‘Campus Power’ offers parents education loans and remittance services. In addition, it has other solutions for them in the areas of savings accounts, investment products, travel and health insurance.
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“We at ICICI Bank believe in customer centricity and are constantly striving to improve our offering with changing market expectations. We have closely observed the education life cycle to understand the different needs of students at different stages of their lives. We have found from our research that students, their parents and institutions struggle with the challenge of interacting with multiple stakeholders to solve problems associated with their higher education. This becomes important with an increasing number of students opting for higher studies in India and abroad. That’s why we decided to launch ‘Campus Power’ to bring all education-related services under one umbrella,” said Sudipta Roy, Head – Unsecured Asset, ICICI Bank.
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