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ICICI Bank partners with Marg ERP

ICICI Bank and Marg ERP, an ERP solutions company are partnering to offer an integrated payments platform to MSME customers. The MSMEs would be able to use Marg’s accounting software. This integration enables ICICI Bank’s current account holders to securely connect their bank accounts with the Marg ERP software and undertake an array of digital transactions from within the ERP platform. It will enable businesses to initiate vendor and salary payments via RTGS, NEFT or IMPS directly from this platform, automate reconciliation of banking and accounting entries, apply for working capital loans as well as schedule future dated payments, thereby offering them an exemplary command over day-to-day financial transaction. MSMES will also be able to seamlessly connect their banking and accounting, which was once available only for large companies with large IT and infrastructure budgets.  Anup Bagchi, ED, ICICI Bank, said the collaboration aims to promote the concept of ‘Connected Banking’ wherein the bank aims to get various banking functions such as initiating transactions, payments and reconciliation on a common platform. Additionally, it will enable businesses to initiate vendor & salary payments digitally, apply for working capital loans as well as schedule future dated payments without having to shift between a banking and an ERP software platform, he added.

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