MUMBAI: Indian Bank, the seventh largest public sector bank, has partnered wealth-tech company Fisdom to offer a comprehensive suite of wealth management products and services to the bank’s 10 crore customers.
The partnership will focus on enabling large-scale facilitation and distribution of wealth products and services through Indian Bank’s network of about 6,000 branches and its digital properties including the mobile banking application and internet banking portal.
In phase one of the partnership, Indian Bank’s customers can access and invest in any mutual fund of choice and the National Pension System through the lender’s IndOASIS mobile banking application and its internet banking portal.
Customers will be able all view details pertinent to funds, helping them make well-informed investment decisions. They will also be able to transact investment schemes and track mutual funds’ performance in real time. Upcoming phases include the introduction of more features, enhancing user experience and more products to expand the offering suite.
Mr K Ramachandran, executive director, Indian Bank said, “The partnership is a key step in line with our mission to provide all financial products and services in an affordable manner while maintaining transparency. The partnership with Fisdom will enable us in offering our customers affordable and simplified digital access to essential financial products like mutual funds and pension funds. We intend to expand the product suite significantly in the time to come.”
Subramanya SV, co-founder and CEO, Fisdom, said, “We are thrilled to partner with Indian Bank to transform the way its customers experience wealth management. Considering our rich experience of working with a variety of banks and Indian Bank’s commitment to delivering customer delight, we are confident that the partnership will be able to deliver great products, high-quality service and a friendly wealth management ecosystem to customers.”
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