Allahabad Bank ties up with Aditya Birla Money

KOLKATA: State-run Allahabad Bank has entered into a strategic alliance with Aditya Birla Money, the broking, wealth management and retail distribution arm of Aditya Birla Financial Services Group

This will provide 27 million Allahabad Bank customers the convenience of investing in financial products online. 

With online trading gaining significant momentum, this strategic tie-up will enable Aditya Birla Money to tap the bank's customer base and provide them with online trading facilities. 

Through this tie-up the Kolkata-based bank will be able to extend its offerings beyond the realm of traditional banking, creating significant value for their customers and providing them a superior trading experience with seamless integration of state-of-the-art technology. 

The bank's account holders can benefit from Aditya Birla Money's single window interface to invest in equities, derivatives, commodities and IPOs. 

"Under the backdrop of growing financial services opportunity and the increasing surge in internet penetration levels, this tie up serves as a win-win proposition for both partners," the bank said in a statement issued on Monday.