Allahabad Bank has planned to offer online trading facility to its customers

By | August 20, 2011

A recent press report has said that Allahabad Bank has now teamed up with Aditya Birla Money (ABM), the wealth management arm of Aditya Birla Financial Services Group (ABFSG), in order to offer online trading facilities to customers. Now the bank expects to offer its customers the convenience of investing in various financial products online.

According to Allahabad Bank’s official spokesman the tie-up has provided a win-win proposition for both the partners. He also mentioned that the strategic tie-up will facilitate Aditya Birla Money (ABM) to tap the 27 million customer base of Allahabad Bank and provide them with online trading facilities.

He said that Allahabad Bank will be able to extend its offerings beyond the area of traditional banking, by adding value for its customers and provide them a superior trading experience with seamless integration of state-of-the-art technology.

The spokesman of Allahabad Bank’s added saying that the account holders can now benefit from Aditya Birla Money’s single window interface to invest in equities, derivatives, commodities and IPOs.

Reports said that ABM is into broking, wealth management and retail distribution and offers equity and derivative trading through NSE and BSE and currency derivative on MCX-SX. The customers will also get benefits of another ABM group company — Aditya Birla Money Mart, which is a wealth management and distribution player.

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About Pradeep Yuvaraj

Pradeep Yuvaraj is a Co-Founder and Director at Finerva Financial Solutions Private Limited, a financial education company focused on personal finance education. He has penned over 250 articles relating to Personal Finance and clocked over 500 hours of educating individuals on managing personal finance. He is a serial entrepreneur and has been associated with 7 Start-ups. His entrepreneurial experience spans industries as varied as Education, Gas Engineering, Automobile Design, Software development and more recently a Pure play presentation design company. Prior to turning entrepreneur in 2005, he has worked for 3 of the top ten companies of the world - Shell, ExxonMobil and Total SA. This experience included handling Branch Operations, Channel Sales and Business Development across 5 states over a period of 8 years. He holds an MBA from Symbiosis and an Electronics Engineering Degree from the University of Pune.

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