Money & Banking

JM Financial Services launches service to book corporate fixed deposits online

Our Bureau Mumbai | Updated on December 18, 2019 Published on December 18, 2019

JM Financial Services Ltd, JM Financial Group’s financial services arm, has launched a digital solution that enables registered Independent Financial Distributors (IFD) to book corporate fixed deposits online. The company termed it as industry’s first ‘Fixed Deposits Online’ solution.

This is in addition to the Initial Public Offering (IPO) and mutual funds distributor platform offered presently by the firm. The solution will also allow the investors to have access to a consolidated view of all their investments in one place.

“We constantly interact with our distributors to understand what they need, and based on their feedback, we are pleased to launch this solution, that will allow them to not just provide choice of financial products to their end clients, but also deliver flexibility to place online transactions through a robust and scalable platform. We see this solution increasing efficiency and offering more time to them for relationship building and customer interactions,” Surajit Misra, Executive Director & Head, Independent Financial Distributor Group, JM Financial Services, said.

Combining technology and financial planning

The solution will provide both sub-broker assisted transaction and investor self-initiated transactions in Corporate Fixed Deposits from institutions of high repute and rating.

By combining technology and goal-based financial planning with personal advisory relationships, the solution will help distributors meet the needs of over 60 per cent of investors, who want a combination of digital capabilities and access expert personal advice.

The advantage of this platform is that the investor will continue to control the process, by way of authenticating or approving the transaction, without giving power of attorney to debit their account.

Published on December 18, 2019
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