Page 29 - Banking Finance April 2023

PRESS RELEASE

ICICI Bank offers Ecosystem Banking for Indian Startups

ICICI Bank today announced that it offers a comprehensive Banking, ICICI Bank said, “India has emerged as the third
bouquet of digital and physical solutions to cater to all largest startup ecosystem in the world, underlining the
banking needs of startups across their various life stages.The country’s vibrant and innovative startup culture. At ICICI
Bank provides innovative solutions through its domestic and Bank, we offer improved convenience to these new-age
businesses through agile and technology led solutions across
international network, and branch at GIFT City, the Gujarat-
their life stages. Through our comprehensive ‘Startup
based emerging global financial and IT services hub.
Ecosystem Banking’, we support the emerging requirement
The ‘Startup Ecosystem Banking’ proposition of the Bank
of Indian startups and aim to become the preferred bank
offers treasury and transaction banking solutions, lending
of choice in their growth journey.”
solutions, digital integrations, handling FDI and regulatory
As part of the ‘Startup Ecosystem Banking’ the Bank has
compliances, personal banking services for employees and
put in place a dedicated team for startups that serves them
founders.
through an extensive network of branches.
ICICI Bank provides comprehensive solutions through its
At the GIFT City branch, the Bank offers digital opening of
domestic network and international presence at New York,
Global Foreign Currency Current Account (GFCCA) for
Toronto, London, Dubai, Singapore and Hong Kong. The
overseas holding companies and subsidiaries of Indian
ecosystem banking is further enhanced by the Bank’s
startups. This can be done seamlessly within one working day
presence at GIFT City.
of submission of required documents, which is significantly
Mr. Rajesh Rai, Business Head- West & South, Branch lower than the industry practise of at least five days.
Bank of Maharashtra goes live with “MAHABANK NAKSHATRA”
Bank’s own Private Cloud Platform

Bank of Maharashtra (BoM), a premiere public sector bank in the country, has embarked its footprint in adoption of
Private Cloud Infrastructure by launching “MAHABANK NAKSHATRA” - Bank’s own Private Cloud Platform. This facilitates
High-Performance Cloud Capabilities for Digital Infrastructure and hosting applications of the Bank.
On the occasion Shri A.S. Rajeev, MD & CEO, Bank of Maharashtra said, “Adoption of Cloud Technology is the need of the
hour and Bank is responsive in adopting platform to achieve “Convenience –Resilience & Experience” and to accelerate
its digital services in robust way. Shri Rajeev opined “The infrastructure enhancement will add fillip to digitization and
augur multiple avenues while boosting Bank's Digital Transformation efforts with service delivery convenience to our
customers”.
Shri Asheesh Pandey, Executive Director, Bank of Maharashtra said “Having our own private cloud platform is in
continuation to our commitment to ramp up our digital infrastructure towards achieving high level of customer centricity
and innovation, with sustainable measures. This will spur performance and reliability further with next generation
technology inclusion. Shri Pandey opined, “Through Cloud Technology, we envisage to enhance our digital delivery
mechanism, along with elevating the operational efficiency which remains our primary objective.”

NAKSHATRA - BoM’s own Private Cloud & Virtualization Technology, is built to host double than the existing applications.
It provides super flexibility, scalability, enhanced security and modern infrastructure for hosting of its digital applications.
Nakshatra is sized for 2X Computation & 3X storage with all Flash vSAN Storage with NSX-T with higher speed and is
augmented to cater bank’s digital journey workload for next 3 years.
With NAKSHATRA having automation, virtualisation, control layers in its quiver, Bank is also geared up to pilot Orchestration
capability by deploying software-defined networking (SDN), software-defined storage (SDS), and network function
virtualization (NFV) way forward.
BoM is consistently enhancing its technology infrastructure platforms to establish itself as a next-generation digital savvy
Bank and cloud adoption will enable the Bank in early implementation of technology solutions.

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