Chennai-based small finance bank Equitas has forayed into the business of online mutual fund distribution.
The bank has collaborated with Valuefy Solutions, a fintech startup to create an online platform where customers can make paperless investments in mutual funds and other products and get wealth management solutions.
In a press release, Sanjeev Srivastava, President & Country Head Branch Banking, Liabilities, Product & Wealth, Equitas Small Finance Bank, said, “As a bank we want to participate in all transactions of our customers, from payments to investments. Our digital wealth management service not only gives them 24/7access but also provide information to help them take the right investment decisions in a simple and easy to understand format.”
The banks caters largely to micro and small enterprises (MSEs). The bank believes that MSEs are underserved by formal financing channels and hence they need comprehensive banking and investment solutions.
