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Karnataka Bank and IIFL Securities have introduced ‘KBLSmart Trade’, a facility in which all customers of Karnataka Bank can access IIFL Securities demat and trading account solution for their capital market needs.
A press release by the bank said that ‘KBL Smart Trade’ is a two-in-one account facility, where the demat and trading account features are clubbed. It said the bank will also benefit by way of enriched customer engagement and retention resulting in augmented CASA funds to the bank.
Quoting Mahabaleshwara MS, Managing Director and Chief Executive Officer of the bank, a release said that account holders can access live prices and alerts, research and recommendations of stocks, trading tips and customisable watch list. This will create a new line of business and revenue opportunities for the bank by leveraging the core competencies of both organisations, he said.
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