ICICI Bank has launched a digital platform to cater to the needs of students aspiring to pursue higher education in India and abroad. Known as “Campus Power”, it offers both banking and value-added solutions in one place, eliminating the need for students to contact multiple stakeholders. It is accessible to everyone, including customers of other banks.
The initiative helps users explore financial products that suit their needs, ranging from bank accounts, including overseas accounts, to student loans and their tax advantages, to foreign exchange solutions, to payment solutions , cards, other loans and investments. It also provides information on value-added services related to higher education in India and foreign countries including Canada, UK, Germany, US and Australia, the bank claims.
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The formed partners provide value-added services on courses, universities, destinations, admissions advice, test preparation, overseas accommodation and travel assistance. The bank has also opened a branch at IIT Kanpur and seven more will be added in the campuses of top leading institutes across the country, he added.
Services include education funding, helping with course and college discovery, helping students prepare for tests, offering debit/credit cards, and creating a foreign student account. To support a child’s educational journey, “Campus Power” offers parents student loans and fund transfer services. In addition, it offers them other solutions in terms of savings account, investment products, travel insurance and health insurance.
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“At ICICI Bank, we believe in customer focus and are constantly trying to improve our offerings based on changing market expectations. We took an in-depth look at the education life cycle to understand the diverse needs of students at different stages of their lives. We found from our research that students, their parents, and institutions grapple with the challenge of interacting with multiple stakeholders to address issues related to their higher education. This is gaining prominence with an increasing number of students opting for higher education in India and abroad. Therefore, we have decided to launch ‘Campus Power’ to consolidate all education related services under one roof,” said Sudipta Roy, Head of Unsecured Assets, ICICI Bank.
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