ICBC boosts agricultural and rural services

ICBC has moved aggressively in building up joint efforts with many rural financial institutions.

The bank leverages on the technical and product competitive advantage to lend technological and business support to the rural financial institutions via the Bank-Bank platform or agency relationship to enhance their service capacity, and push the prosperity of financial services for “agriculture, farmers and rural areas”.

As related, the Bank-Bank platform between ICBC and partner banks enables inter-connectivity of business systems from both sides. Through the platform, partner banks can deliver to customers the ICBC’s products and services such as payment and settlement, cash management, investment and wealth management.

ICBC provides a basket of services to the partner banks including back office clearing, risk management, as well as technology and management experience depending on their requirements. Both sides can also share the outlets resources and act as agency to each other. ICBC has announced the partnership with a number of rural financial institutions. Businesses of both sides are running smoothly.