CHENNAI: Motilal Oswal Securities, one of the leading brokerages, launched a first-of-its-kind paperless e-KYC instant trading and demat account facility on Tuesday.
It eliminates the hassle of sending physical documents to open an account and customers from anywhere can open a trading and demat account completely online – without any physical documentation – in just about 15 minutes and start investing instantly.
The facility will be available to all prospective customers possessing an Aadhaar card. “With digital transformation at its inflection point, there may be no better place to start than the account opening process and make it completely paperless.
‘Aadhaar integrated’ new account opening has not only eliminated the legacy of paper-based documentation and increased the customer satisfaction but will also usher in a new era of digitization in the broking industry,” said Ajay Menon, CEO, Motilal Oswal Securities.
“Online and paperless account opening was a pioneering service as it transforms the way a customer opens an account and is able to buy and sell shares instantly online and through our mobile app,” he added.