The portal, www.choladbsdirect.com, is a financial gateway for first time as well as regular investors, helping them invest safely and securely across a wide variety of financial instruments online. The portal will initially also host most of the in house research that has been hitherto available to High Net worth Individuals (HNI) clients of the firm.
Speaking about the initiative, Atul Pande, Managing Director, Cholamandalam DBS said, "With the launch of CholaDBS Direct, we expect to gain a sizable market share in the online trading space. Our partner, DBS Vickers Securities, the securities arm of the DBS Group, is a strong online player, and we have integrated our domestic and international knowledge to ensure we present a very strong platform to Indian investors. With our strong focus on customer choice and transparency, we believe we can play a pivotal role in this industry over the next three to five years. The product would now be available across all our 90 existing wealth management branches across 46 cities."
"CholaDBS Direct's trading platform offers a very user friendly interface for both active traders as well as investors. More over, we are continually going to build around technologies that allow clients to experience online trading in a very different way. We have also priced it vey aggressively and are offering a 3-in-1 account in partnership with banks" said Sandip Raichura, Head Broking, Cholamandalam DBS.
"The portal was being test marketed in some key locations over the past few months and the initial response suggested that the online community would continue to not only grow substantially but also force key players to bring strength and variety in their offering. Our client service standards would continually be ramped up to ensure we retain a large part of our investor base over the years", he added.
Cholamandalam DBS will also be looking at partnering with banks and other financial institutions to offer their customer base a range of white-labeled retail products including personal loans and online broking through www.choladbsdirect.com.