back Back

Vested Finance and SBM Bank make investing in US sticks easier

By Leandra Monteiro

October 13, 2021

  • India
  • SBM Bank
  • US Stocks
Share

Vested FinanceVested Finance, an online investment platform that enables Indian investors to invest in the US stock market in a smooth and hassle-free manner, announced its partnership with SBM Bank India, to enable an easier, faster & seamless experience to deposit funds into Vested accounts.

As per the partnership, Vested Finance and SBM Bank India have launched an online cross border fund transfer solution in India, called Vested Direct. Traditionally, Indian investors looking to invest in US funds like Apple, Amazon, Facebook & Microsoft, had to use their existing bank accounts to transfer funds. This involved multiple steps and investors had to incur high foreign exchange markups and fixed transfer charges. The transfer would take up to 5 days. With Vested Direct, the process is a significantly better experience with simple steps to initiate a transfer, lower charges, and a faster deposit timeline.

Speaking on the partnership, Viram Shah, Co-Founder & CEO, Vested Finance said, “We have seen rapidly increasing interest, amongst Indian investors, to diversify their portfolios internationally. So far, the biggest bottleneck has been the deposit journey due to high charges and the tedious process. At Vested, our aim is to make diversification easy. Our partnership with SBM Bank will help investors start building their international portfolios in a way that’s never been possible before. Vested Direct is a solution that has been launched for the first time in India and will enable seamless, safe, and transparent fund transfers that are 100% online and charge low fees. We’re excited!”

With Vested Direct, investors open a free of cost, no-minimum-balance savings account with SBM Bank funds. Investors can load funds in INR that can be converted to USD to eventually transfer into their Vested account.

Speaking on the partnership, Neeraj Sinha, Head- Retail & Consumer Banking, SBM Bank India said, “We believe banking is meant to solve problems and collaboration is the key to sustained solutions. Partnering with Vested Finance is in line with both our beliefs –making the challenge of overseas investing seamless for end users while empowering Vested to create a credible and accessible global investing platform. This partnership with Vested Finance will enable Indian investors to geographically diversify their portfolios in a smarter manner.”

Previous Article

October 13, 2021

Coinbase announces the launch of Coinbase NFT

Read More
Next Article

October 13, 2021

mmob announces the addition of a wave of new partners

Read More






IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

October 09, 2024

Savings platform Moneybox renews partnership with GoCardless

Read More

October 07, 2024

NBB and ARP Digital launch Bitcoin-linked investment product

Read More

October 03, 2024

3 FinTechs offering debt-free Save now, Buy later options in MENA

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q3 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More