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Indian Bank, Fisdom tie up for digital gold, pension funds, portfolio management

Indian Bank is the seventh-largest public sector bank in India, following the merger with Allahabad Bank. (Photo: Mint)Premium
Indian Bank is the seventh-largest public sector bank in India, following the merger with Allahabad Bank. (Photo: Mint)

  • The bank’s customers will get to invest in pension funds and digital gold and even file income tax returns online. HNI customers will be able to access sophisticated and customised products, such as Portfolio Management Services and Alternate Investment Funds

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NEW DELHI: Indian Bank on Wednesday said it has added a host of new digital wealth management products on its mobile banking app in partnership with Fisdom, a fintech company that offers financial products, such as mutual funds, insurance and National Pension Scheme (NPS) on its platform.

The two had announced a partnership in June this year to offer investment services for mutual funds and NPS to the bank’s 10 crore customers.

In the second phase, announced today, bank’s customers will get to invest in pension funds and digital gold and even file income tax returns online. The bank’s HNI customers will be able to access sophisticated and customised products, such as Portfolio Management Services (PMS) and Alternate Investment Funds (AIF), as per the official statement.

"We are thrilled to expand our partnership with Indian Bank with the addition of more products that would help us provide a holistic wealth management experience to our customers," said Anand Dalmia, co-founder, Fisdom.

Indian Bank is the seventh-largest public sector bank in India, following the merger with Allahabad Bank.

"We are also merging our existing Mutual Fund business with FISDOM to scale efficiency and increase digital adoption on banks digital properties for existing customers as well," said Imran Amin Siddiqui, executive director, Indian Bank.

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