Stock Report

Federal Bank in association with Equirus Wealth launches a digital investment platform via its mobile banking app

Posted On : 2021-10-07 21:51:06( TIMEZONE : IST )

Federal Bank has now upgraded its mobile banking app, FedMobile with an investment platform equipped with superior wealth management capability for the convenience of its users.

The new module launched in association with Equirus Wealth provides comprehensive and personalized investment solutions. The platform allows a user to open an investment account in less than 2 minutes and start executing transactions instantly. The module offers an entire range of mutual funds across different categories such as equity, debt, hybrid and solution-oriented funds from all the leading asset management firms in the country.

The module also enables customers to set up a Systematic Investment Plan (SIP), a well-recognized tool to invest money at regular intervals and accumulate wealth over a long term.

Speaking on the occasion, Shalini Warrier, Executive Director & Business Head - Retail said, "The addition of Wealth Management solutions to our Mobile Banking app is yet another manifestation of our mantra of "Digital at the fore, human at the core". The module makes it easy for new and seasoned investors to plan and make investments on their own and at their own pace. This capability is supplemented with specialist Investment Relationship Managers who are able to give customised advice to customers".

Adding to the above, Mr. Ajay Garg, Managing Director - Equirus Group, said, "As the world embraces technology, we are committed to provide our clients best-in-class digital platform for investors. We believe that this shall enable customers with a one-stop solution for all their financial needs".

FedMobile app can be easily downloaded on both Android and iOS devices from Google Play and App Store respectively.

Shares of The Federal Bank Limited was last trading in BSE at Rs. 85.50 as compared to the previous close of Rs. 84.40. The total number of shares traded during the day was 879009 in over 3995 trades.

The stock hit an intraday high of Rs. 86.40 and intraday low of 84.85. The net turnover during the day was Rs. 75137400.00.