Friday, December 1

This Indian Bank Becomes First to Use Facebook Messenger For Mutual Fund Transactions

India’s largest private sector bank HDFC becomes the first Indian bank which offer mutual fund transactions through Facebook Messenger.

HDFC securities, a subsidiary of HDFC Bank launch a theme called “The Pace of Innovation” which is structured to innovate and provide intuitive and relevant digital solutions to customers and this effort, is in line with the vision.

This particular feature, apart from mutual fund investments, facilitates a quick overview of total portfolio holding, getting the latest stock quotes and opening an account.

ALSO READ: After Tata Group, HDFC Crosses Market Cap of Rs 10 Trillion

Here’s a guide to how this works:

-Go to Facebook Messenger and search for hdfcsec.Arya

-Can open a trading account

-Post login, one can complete MF transactions including investments(SIP/ Lumpsum) and redemption(Partial/All)

-Portfolio holding view is available

-No login required for research recommendations and stock quotes


hdfcsec arya

“We want to be where the customers are. Today, social media is a lifestyle statement and we plan to make investments a part of our customers’ lifestyle. Through this conversational style of investing, we are probing our customers to invest in a language they understand and not get caught up in stock market jargons,” said Digital Strategy and Analytics Head, Nandkishore Purohit.

Adding to this Nandkishore said that through such innovations, we are not only providing a familiar platform for investing but, we are also giving a time-independent and an all-inclusive (portfolio status, research, stock quotes) window to do so.

“We are getting ready for the next generation of investors who are enthusiastic to try out various new channels for participating in markets,” he added.