ICICI Securities diversifies its business model; enters digital distribution of assets segment

Mumbai, July 9, 2019: ICICI Securities Limited (I-Sec), India’s leading technology based securities and financial products distribution firm, today announced the diversification of its business model by entering into retail asset (loans) distribution business, thereby opening a new revenue stream for the organization.

This service is inclusive of products such as personal loan, home loans, loan against property, auto loans, and credit cards offered by ICICI Bank. I-Sec will earn a distribution commission for selling these products through its online (ICICI Direct platform) and offline channels (network of ~200 branches).

“With our entry into the fast growing retail loan distribution space, we have marked our presence in the entire financial planning journey of our customer’s lifecycle - from investment to protection to assets. This is a new revenue stream for us and we are confident that given the robustness of our platform and strength of our distribution, we will provide a lot of value to both our customers as well as principal,” said Mr. Vijay Chandok, MD & CEO, ICICI Securities.

Over 0.5 million I-Sec customers are already pre-approved and credit cleared who can avail of personal loan through the ICICI direct platform without any documentation, which will get credited into their account within 3 seconds. For other categories too like auto and home loans, there are pre-approved offer available to the customer.