Religare Broking sees 50 pc upswing in online trading during lockdown

Religare Broking, the arm of financial services group Religare Enterprises, on Tuesday said it has witnessed a whopping 50 per cent upswing in trading volumes from online platforms during the nationwide lockdown.

The company's trading volumes have shot up, especially on its mobile app Religare Dynami driven by a significant behavioural shift by traders and investors towards self-execution model, even as the firm has ensured near total operational continuity as it moved to 100 per cent work from home mode for client servicing and operations team.

Besides, leveraging of relevant technology such as cloud telephony-based solutions as well as seamless new e-collection mode of payments for customers, who are otherwise used to transferring funds through physical cheques and net banking, have sustained this spike.

The growth has been seen since the nationwide lockdown was imposed.

''We were able to adapt to the situation quite early and ensured that the critical operations were up and running from home,before the lock-down. We ensured that even while we shift to a work-from-home model, business continues with minimal disruption and client needs are addressed in real-time through smart and efficient use of technological solutions, Religare Broking CEO Nitin Aggarwal said in a statement.

As a result, our online trading platforms, both the web portal and the 'Dynami' mobile app have actually seen a spike in number of active customers and transactions during the period of the lock-down, he added.

The same approach to business continuity has been followed by other subsidiaries of Religare Enterprises, which has allowed the Group to continue operations without any business disruption.