Oriental Bank of Commerce & Fisdom Rolls Out a New Wealth Management Solution to Assist Customers

By SiliconIndia   |   Tuesday, 13 November 2018, 12:26 Hrs
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Oriental Bank of Commerce, a Government owned bank, partners with a fin-tech startup Fisdom, operated by Finwizard Technology, to assist in personal wealth management services through a technology platform. With the collaboration, the bank aims to make wealth management more understandable and accessible to its customers.

“We have introduced digital solution for mutual fund investments for our customers in partnership with Fisdom. The ease that this solution offers will help in better adoption by our large customer base which is also keen on investing in Mutual Funds”, comments, Mukesh Kumar Jain, MD & CEO, Oriental Bank of Commerce.

OBC has always been in the pole position among the peers and is best known for bringing innovative digital solutions in the banking sector. The recent partnership with Fisdom brought-in digital wealth management solutions via its mobile banking app (mPay) and website and the newly rolled out solution provides paperless KYC, up-to-date market information, funds comparison, suggestions based on research, redemption and tax advisory as well.

Speaking about the launch, Subramanya SV, Co-Founder & CEO, Fisdom, says, “We are delighted to partner with Oriental Bank of Commerce to offer wealth management services to the customers of the bank across the country. With the experience of having worked with several banks till date, we are looking to provide high quality service to a very loyal base of customers”.

Commenced in 2015, Fisdom is an automated investment service provider that manages a personalized online investment account for its customers. It aims to monetize by charging commission from financial services companies and mutual funds. The Bangalore based company uses its funding received from various angel investors, including Silicon Valley-based venture capitalist Rob Chandra to build new products.

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