Securities brokers bench their branch office, court customers online

Trades through mobiles accounted for a fourth of transactions on NSE in July

The Covid-19 pandemic might compel full-service domestic brokers to rationalise the number of branches catering to their retail customers. This is because digital has become the new buzz word for brokers, with the bulk of customer acquisitions during the pandemic completed through the digital route.

“The pandemic will lead to further consolidation of branches, wherein brokers will shift from a pure brick-and-mortar model to a hybrid model, consisting of digital and physical engagements. This will bring in greater operating efficiencies. The number of touch points, however, will increase as more and more customers sign up for new accounts,” said Lav Chaturvedi,