Angel Broking rides Fintech wave to record 127 per cent growth in client base
Apr 07, 2021
Mumbai (Maharashtra) [India], April 7 (ANI/BusinessWire India): One of India's leading digital stock broking company, Angel Broking, is adding a new chapter to its decades-old journey as a financial services company. Having achieved several awards, accolades, and growth through digital transformation in the previous decade, it is now at the cusp of new-age innovation in the FinTech space.
The company has been offering full-service brokerage and advisory services to its customers through its digital-first strategy and has since launched many digital platforms. Interestingly, its growth is attributed to Angel Broking's concerted efforts at integrating tech and financial services for the new generation of investors. It recently recorded a whopping 4.12 million clients by March 2021, which is 127 per cent rise over the same time last year.
The digital-first strategy created ground for innovation, which led to amplification of digital services for an average Indian investor, who largely remained outside the financial system. It indicates the company's commitment to building platforms in line with contemporary requirements. The agility, flexibility, and quick adoption of tech show that Angel Broking's strategy thrived in recent years. Angel Broking's DIY approach was instrumental in taking its journey to becoming India's 3rd largest broking company, in terms of active clients on the NSE.
If the above numbers are any indication, Angel's new clientele hail from tier II and III towns and cities, which are witnessing rapid digitization and infrastructure build-up. Angel Broking's growth is backed by innovative mobile apps, and it is keen to explore the future potential by encouraging FinTechs and tech-entrepreneurs. It has helped Angel Broking develop solutions like Smart API, which registered over 10,000 registrations as of December 2020. The program played a role in designing trading platforms, and Angel Broking is now going a step further by helping build a FinTech ecosystem. The focus for the company is now on creating its incubation program to encourage and nurture the next generation of talent and innovation.
Initiatives like Smart Money, Smart Buzz, etc. are today considered reliable market-related DIY processes for investors, as many are keen to get educated about markets and make the most of cost-effective services. The AI-chatbot integration into Accelerated Mobile Pages (AMP), ARQ & ARQ Prime investment engines, UPI Autopay integration into mutual funds, Vested Investing- for investors interested to invest in international markets, etc., have all been presented to customers to enhance their experience while handling trades. The AI-enabled tools and other developments at Angel Broking in the past few years are an indicator of how AI, machine learning, and cloud computing have been transformative, and the beacon directing the company into its FinTech future.
Commenting on the FinTech pivot, Prabhakar Tiwari, Chief Growth Officer, Angel Broking said "Angel Broking has thus far made significant strides in terms of digitization and democratization of the stock markets for the people of India. Our next step is to double down on collaborative innovation, wherein, we can nurture and develop new-age FinTechs, which will then disrupt existing conditions. We are looking forward to creating tomorrows' FinTech entrepreneurs and hope they change India's financial sector for good."
The next generation of tech innovation will involve emerging phenomena like blockchain, etc., and Angel is investing in these areas to create leaders of tomorrow. Fintech platforms have so far led to the next generation of products and services across various segments including IoT alongside others. Investing in innovative models, especially the ones leveraging technologies such as AI, machine learning, and so forth, can help us achieve the country's development goals faster. Doing so will further support the vision of an Atmanirbhar Bharat.
This story is provided by BusinessWire India. ANI will not be responsible in any way for the content of this article. (ANI/BusinessWire India)
