Indian Bank Unveils Digital Broking Solution

Public sector Indian Bank has unveiled digital broking solution -- E-Broking -- allowing customers to open a demat and trading account facility, in line with the digitalisation mission of the bank, an official said on Saturday.

The launch of digital broking solution 'E-Broking' was a strategic step towards complete digitalisation of its offerings to customers, a bank statement said.

"E-Broking, an instant and paper-less demat and trading account opening is integrated in the bank's mobile banking application," it said.

IndOASIS, the bank's mobile banking application, would offer customers, a seamless experience from demat and trading account opening to discounted broking services backed by research based investment in the secondary market starting from equity, futures, options, and initial public offerings in a single platform, it said.

"This is a key initiative in line with our digitalisation mission to provide all financial products and services to our customers in an affordable manner under one roof," the bank's executive director, Ashwani Kumar said.

"This will also help the bank to increase its CASA (current account, savings account)...," he said.

The bank said the initiative also enables its customers to invest in the ongoing LIC Initial Public Offering seamlessly.

The product was launched in association with the bank's financial technology partner Fisdom.

"We are thrilled to partner with Indian Bank to transform the way its customers experience wealth management and specifically digital broking journey," Fisdom co-founder and CEO, Subramanya S V said.

"The product is among the best in the country and we are confident that the partnership will be able to deliver great products and high quality service," he said.