* Amongst the first smart investment solutions of its kind to be launched by a bank
* digiPortfolio helps investors by offering them a choice of mutual fund portfolios that match their risk preferences
DBS Bank India has announced an innovative investment solution, 'digiPortfolio', on its digibank platform. digiPortfolio uses both technology and human expertise to create a set of investment options curated by Morningstar that match the risk preferences of different investors. The platform is an easy, one-stop solution for users to invest money with ready-made baskets of mutual funds. DBS Bank India is one of the first banks in India to offer this type of digital solution.
DBS Bank aims to redefine the customer experience and make it more seamless by using data, AI, and advanced technologies. The offering includes different types of investment options, such as domestic equity, debt, and money market instruments, to ensure there are diverse portfolios to cater to different risk profiles of investors. The digiPortfolio platform is run by Quantifeed and is automated, making it easy to use.
Prashant Joshi, Managing Director & Head - Consumer Banking Group, DBS Bank India, said, "India has witnessed increased participation of domestic retail investors in the burgeoning capital markets during the past two years. However, the complex nature of mutual fund products and the risks involved have kept many prospective investors at bay. Through this differentiated offering, our aim is to simplify the process and bridge the knowledge gap, while helping to balance growth and safety while making investment decisions. It is our endeavour that through digiPortfolio, many of our customers will be more confident about participating in the Indian capital markets."
Dhaval Kapadia, Director – Portfolio Specialist, Morningstar, said, "Asset Allocation, i.e., the allocation of various assets such as equity and debt in an investor's portfolio, is known to be a key driver of investment performance in terms of risk and reward over the long term. The digiPortfolio begins with Morningstar's ground-breaking research on long-term asset allocation. This approach considers various asset classes to build diversified mutual funds-based portfolios of domestic equities and fixed-income offerings. These portfolios are designed to be an investment, aligned to your risk appetite and investment horizon, helping you achieve your financial goals."
The investment options on the digiPortfolio platform are chosen and made up of mutual funds carefully selected by Morningstar, which relies on more than 37 years of industry research. The portfolios are regularly adjusted to ensure they stay strong even when the market is volatile and give the best possible returns.
digiPortfolio provides instant access to investors with two plans starting at a minimum investment of ?10,000 and ?50,000. These plans include features such as portfolio construction, monitoring, and rebalancing services, powered by Morningstar. The Bank uses technology to make things faster, cheaper, and more efficient for investors. There are no extra charges, like sales or transaction fees. Investors can invest for as long as they want, choosing what suits them based on their goals, risk preferences, and investment duration.
Ross Milward, Chief Technology Officer & Co-Founder of Quantifeed, said, "We are delighted to continue our relationship with DBS Bank and support their latest launch in India. Quantifeed continues to see first-hand how well business and technology can come together, guided by a clear sense of delivering on customer experience. We are convinced that digiPortfolio will continue to revolutionise the digital wealth landscape and bring customers a delightful and personalised investing experience."
DBS Bank India has a strong commitment to delivering superior solutions to its customers that make banking intelligent, intuitive and effortless, frequently partnering with industry leaders in the ecosystem. In 2022, the bank collaborated with Bajaj Finance Limited to launch the 'Bajaj Finserv DBS Bank SuperCard,' a Visa-powered credit card designed to simplify customers' wallets by eliminating the need for multiple cards.