Federal Bank and ICICI Securities tie-up to provide trading services

By Leandra Monteiro

Federal Bank and ICICI Securities have entered into a strategic agreement to provide end-to-end trading services to customers of Federal Bank. The tie-up will combine both the company’s expertise to develop and provide next‑generation financial services. The association also offers a unique 3-in-1 account in which demat and SB accounts are with Federal Bank and trading account with ICICI Securities. The tie-up was announced jointly by 7 Federal Bank and ICICI Securities at a virtual event.

The platform has on offer numerous facilities including Equity ATM (eATM) wherein customers get instant credit of funds on selling shares instead of waiting for 2-3 days in case of the normal settlement cycle, access to Prime (a service to get the best of brokerage and interest rates along with enhanced eATM limits and exclusive research with ICICI Direct Prime) and ICICI Direct Neo (a path-breaking zero brokerage plan that is targeted at offering unlimited trading with zero brokerage on all futures trades and flat ₹ 20 per order for Margin and Options trades.)

Speaking on the new association, Shalini Warrier, Executive Director, Federal Bank said, “Today’s investors are looking for ease and convenience in all that they do and through our tie-up with ICICI Securities, we are delighted to give our clients access to a successful and a highly scalable 3 in 1 platform, that is completely digital and seamless. We are glad to partner with ICICI Securities and hope that our partnership will create a new standard for the industry in addition to providing cutting-edge digital technologies to transform customer journey.”

Federal Bank is an Indian private sector bank with a network of 1,263 branches and 1,937 ATMs/Recyclers spread across the country. Federal Bank has its Representative Offices at Dubai and Abu Dhabi that serve as a nerve centre for Non Resident Indian customers in the UAE. The Bank also has an IFSC Banking Unit (IBU) in Gujarat International Finance Tec-City (GIFT City).