JOIN USHDFC Securities, the 10-year-old stock broking arm of HDFC Bank, which provides investment advisory services to retail and institutional customers, plans to double its branch strength by laying more focus on its digitisation campaign.
In an interaction with Deccan Herald, HDFC Securities Managing Director Aseem Dhru said that the company is going for more branches as there is growing interests in investment product business.
“We are running 200 branches and will double it next year. We are not looking for any franchise model, since client services will be hindered,” said Dhru.
The company is betting big on digital initiatives with more services going on digital platforms using online and mobile apps, as the country is witnessing dramatic growth in mobile and internet penetration.
“We launched our mobile app for customers in 2012, which gave clients access to speedy transaction. We also started providing hourly basis inputs from our research team via online alerts and sms. Now, our mobile business is 10 per cent of our total volume, which is expected to touch 50 per cent within the next 20-month period,” Dhru said.
The company’s mobile trading application is compatible to all smartphone platforms such as Blackberry, Android, Windows, Java and iOS. HDFC Securities gives seamless platform to its customers to trade via online, mobile, telephone or any of its branches.
HDFC Securities works mainly in investment management, investment accounting, tax planning and investment gateway. This is managed with an HDFC Bank account. “Clients can invest in equities, IPO, derivatives, mutual funds, national pension system, insurance, ETFs, securities, fixed deposits, multiple investment securities like bonds, government bonds etc. Here, our portfolio tracker alerts clients on day-to-day developments via sms and mails,” he said.
“Our total revenue in fiscal 2014 was Rs 240 crore. We will double our revenue, of which, already 80 per cent is achieved. Our end-to-end risk management services backed by solid research inputs get greater appreciation from customers,” he said.
Adding to services, the company also began E-Will services. “Our E-Will service comes at an affordable cost of Rs 4,000 plus taxes with a guarantee of confidentiality of information. HDFC Securities offers this service in collaboration with WillJini, a legal partner, which assists individuals to write their personal “Will” online in about 30 minutes without any phone calls, emails or meetings,” he said.
To further give hassle-free service, the company has ramped up its research activities by appointing 40 employees and establishing a 250-staff call centre. “We send daily trading and investment reports. We also provide more than 35 reports annually. Our call centre facility gives clients information in 11 languages,” he said.