ICICI Bank partners Zoho Corp to provide MSMEs with ease of doing business

The Chennai-based accounting software products company Zoho Corp on Monday announced a partnership with leading private sector ICICI Bank to provide digital banking service to customers using its cloud accounting software that will offer micro, small and medium enterprises (MSMEs) with unparalleled ease of doing business.
As per the agreement, the current account holders of ICICI Bank can securely connect their respective bank accounts with cloud accounting software Zoho Books which would help businesses eliminate data entry, provide multiple payment options among others.
“Corporate ERP to bank connectivity was a luxury that only big companies used to enjoy. Zoho and ICICI Bank have come together to democratise this technology. This partnership allow businesses to execute bank transactions right …,” Zoho Corp, CEO, Sridhar Vembu said in a company statement.
On the collaboration, ICICI Bank, executive director, Anup Bagchi said, “We are delighted to partner with Zoho to bring forth an integrated solution that will offer MSMEs with unparalleled ease of doing business.”
“This integration enables MSMEs to bring in the efficiency of automation by connecting seamless banking transactions and book keeping on a single platform,” he said.
Some of the benefits include zero data entry, automate reconciliation, multiple payment options to customers, pay vendors directly and customers can also request working capital loan to bank, it added.