BANKING AND ECONOMY
Indian Bank in association with ‘Fisdom’, has launched the digital broking service ‘E-Broking’ in line with the digitalization mission of the bank. Fisdom is the bank's financial technology partner.
It allows the customers of the bank to open an instant and paperless Demat and trading account facility. The opening of these trading accounts is integrated with the bank's mobile banking application - IndOASIS.
The service was launched in line with the digitalization mission of the bank to provide all financial products and services to the bank’s customers in an affordable manner under one roof.
The initiative 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.
With this new initiative, the bank can increase its CASA (current account, savings account) and enables its customers to invest in the ongoing LIC Initial Public Offering seamlessly.
A Demat account is a necessary account to hold financial securities in a digital form and to trade in the share market. It is maintained by the National Securities Depository Limited and the Central Depository Services Limited.