ING Vysya Bank Ltd and Angel Broking Ltd, announced today the strategic tie-up to offer ING Vysya Bank customers a ‘three – in – one account‘that enables a seamless investment experience by integrating ING Savings Account, ING Demat Account and Angel Trading Account on a single platform.
The solution aptly named “ING Fortuna Trade” is powered by the industry renowned Angel Broking Ltd. The central theme of the solution is to make it easy for ING customers to trade online, and manage the three accounts with a single online interface. The platform allows the customer to lien mark funds from the ING savings account towards the Angel trading account; block and unblock shares between ING demat account and Angel trading account; and finally trade instantly. If the customer does not use the funds for trading, the lien mark is automatically released.
The solution has been customized to meet needs of customers across all segments. ING Vysya Bank customers have the choice of selecting Online Trading, Mobile Trading or a dealing facility through the phone. The customer can opt of one or more of the following segments: Equities, Futures & Options, Exchange Traded Currency Derivatives and Commodities, on the single platform. The platform also allows access to multiple exchanges, namely BSE, NSE, NCDX, MCX, and MCX-SX.
For HNI customers, the solution is customized with a dedicated dealer, access to privilege reports and priority servicing.
Commenting on the developments, Shailendra Bhandari, Managing Director & CEO, ING Vysya Bank said “There is continuous growth in Indian Equity Market, with huge opportunity for retail participation. Currently retail penetration is at 8%. With our network of close to 500 branches, catering to evolving needs of the mass affluent segment, the bank believes there is a huge opportunity to introduce our customers to online trading. With Angel Broking’s retail orientation and our network strength, this would prove an ideal fit.
It is only appropriate that we have commenced this service. With this offer, the bank is now catering to the entire investment requirements of a customer, through different product classes”.
Dinesh Thakkar, Chairman & MD, Angel Broking said “We are glad ING Vysya Bank has chosen us as their partners, to offer seamless online trading platform to their customers. With our state of the art trading platform, the bank’s customers will be able to trade across Equities, Futures & Options, Exchange Traded Currency Derivatives and Commodities, with total transparency in the deals undertaken across exchanges like NSE, BSE, MCX and NCDX.
“ING Fortuna Trade” as an account thus ensures an end to end integration through alternate channels of trading and will prove its immense benefit to the customers and the product, we are confident, will occupy its rightful place, in the market said the release.
ING VYSYA Bank:
ING Vysya Bank Ltd is a premier private sector bank with retail, private and wholesale banking platforms that serve over 2.0 million customers, with 80 years of history in India and leveraging
ING’s global financial expertise, a workforce of 6,763 employees staff, 883 outlets comprising of 488 branches and extension counters, 28 satellite offices and 367 ATMs to offer its clients an increasingly broad range of innovative and established products and services.
ING is a global financial institution of Dutch origin offering banking, investments, life insurance and retirement services to over 85 million private, corporate and institutional clients in more than40 countries. With a diverse workforce of about 107,000 people, ING is dedicated to setting the standards in helping its clients manage their financial future.
ANGEL BROKING:
Angel Broking is one of the leading stock broking and wealth management house, with a focus on retail business and a commitment to provide ‘real value for money’ for the clients. With over two decades of experience, Angel provides value added services to over 8.lakh individual retail investors, through its network of 175 branches, 20 regional hubs and 8100+ sub brokers
As a member of the Bombay Stock Exchange, the National Stock Exchange and the leading commodity exchanges NCEDX and MCX, Angel provides optional channels for trade The web enables, value added back office is staffed by a brilliant team of experts and its 5600 employees are always ready at service of the clients..
International Finance Corporation (IFC) has 12.35% stake in Angel Infin. This is the first time ever that IFC has invested in equity broking and wealth management space.
