Karnataka Bank and IIFL Securities Limited have partnered to introduce KBL Smart Trade, a facility under which all Karnataka Bank customers will get the facility to access IIFL Securities Demat and Trading account solution to serve their capital market needs.
With the help of this service, the bank’s customers will now be able to open a paperless, online trading account instantly in minutes with IIFL Securities under KBL Smart Trade from any location.
This is a two-in-one account facility wherein Demat and Trading account features have been combined and it is termed all in one shop for smart investors in capital market. The alliance is likely to benefit the bank by leveling-up, its customer engagement and helping it in retaining customers resulting in augmented Current Account and Savings Account (CASA) funds to the bank.
Mahabaleshwara M.S., Managing Director and Chief Executive Officer, Karnataka Bank said that KBL Smart Trade will be meeting the aspirations of the technology-driven and capital market needy customers of the bank.
This new customer-centric alliance is likely to help a savings bank account holder open a Demat and Trading account with IIFL Securities instantly. The account holders will have the freedom to access live prices and alerts, research and recommendations of stocks, trading tips and customizable watch list.