The Dhanlaxmi bank today announced a strategic alliance with SMC Global Securities Limited for offering online trading services to customers
The Dhanlaxmi bank on Monday announced a strategic alliance with SMC Global Securities Limited for offering online trading services to customers.
The tie-up will offer an integrated 3-in-1 account, comprising a Savings, Demat and Trading account providing a hassle free and convenient trading experience to the Dhanlaxmi Bank customers through the portal "www.smctradeonline.com apart from mobile trading app (SMC ACE) and desktop based software, a bank release said.
"The trading platform is a high end, integrated application for fast, secure and hassle free execution of trades. This tie up will help SMC Global increase its client base by leveraging upon the banks deep presence in Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, Telangana and other parts of the country. The tie up will help the bank provide additional services to its account holders and to generate an additional source of revenue," the release said.
It said under this arrangement, SMC Global will open the Trading account and the Bank will maintain the bank account as well as the Demat account of the customer.
Ajay Garg, Director and CEO, SMC Global Securities Ltd. said it was prestigious for SMC to tie up with Dhanlaxmi Bank and it will bring in a fast, secure and hassle free experience to the bank clients for investing and trading in shares from a mobile or desktop.
"It will also help SMC increase its presence and client base in the southern part of India," Garg said in a release.
Dhanlaxmi Bank Ltd,incorporated in 1927, is a private sector bank headquartered in Thrissur in Kerala. The bank has 245 branches and 257 ATMs spread over the Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, Telangana, Maharashtra, Gujarat, Delhi, West Bengal, Madhya Pradesh, Punjab, Uttar Pradesh, Rajasthan, Chandigarh, and Haryana.