India’s HDFC Launched HDFC SKY

Indian Bank HDFC Securities Ltd. has announced the launch of “Brokerage as a Service” (BaaS), which enables partners to effortlessly integrate HDFC Securities' trading platform, HDFC SKY into their applications and websites, providing clients with extensive trading capabilities.

Sandeep Bhardwaj, Chief Operating & Digital Office at HDFC securities Ltd., said: “Innovation and client-centric solutions are at the core of HDFC securities mission. With Brokerage as a Service, we are offering institutions and fintech companies a unique opportunity to integrate our advanced trading platform, HDFC SKY, into their own ecosystems seamlessly. This initiative underscores our commitment to empowering our partners with the tools and capabilities to enhance their service offerings and drive revenue growth.”

HDFC SKY is a comprehensive platform for a variety of investment alternatives, including forex, shares, mutual funds, and global investing. It provides a variety of services, including investment and stock advice, unique research, and a margin trading platform. The software is designed to help investors and traders of all skill levels engage successfully with the financial markets and achieve their financial goals.

The company has developed different business models to deliver this solution. These include the brokerage revenue sharing model, which enables partners to charge clients for utilizing their platform without requiring brokerage sharing.

This is followed by the hybrid model, which combines platform usage fees with brokerage income share. The third model is the referral-only model, which the business says is “ideal for online media publications that rely on user referrals.”

About HDFC Bank

HDFC Bank is one of Indias leading private banks and was among the first to receive approval from the Reserve Bank of India (RBI) to set up a private sector bank in 1994.

As of June 30, 2024, the Banks distribution network was at 8,851 branches and 21,163 ATMs / Cash Recycler Machine (Cash deposit & withdrawal) across 4,081 cities / towns.

The Banks international operations comprises four branches in Hong Kong, Bahrain, and Dubai and an IFSC Banking Unit (IBU) in Gujarat International Finance Tech City. It has five representative offices in Kenya, Abu Dhabi, Dubai, London and Singapore. The Singapore and London offices were representative offices of erstwhile HDFC Limited.

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