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.