- Helping create wealth beyond metros through technology~
- Launched Language customisation for clients in Hindi, Gujarati and Tamil
- Non-metro cities contribute 58% of active user base in comparison to metro cities, for the first time ever
- Edelweiss Mobile Trader (EMT) is one of the highest-rated stock trading apps in the country, clocking over 1 million downloads
MUMBAI, India, NFAPost: Edelweiss Wealth Management, part of Edelweiss’ Global Investment Advisory, serving salaried professionals and HNIs, announced a significant increase of 65% Y-o-Y in its user base in India for its mobile trading application – Edelweiss Mobile Trader (EMT).
Over 58% of the active user base has been witnessed from non-metro cities, pointing out to an increase of tech-savy investors in Tier II and Tier III cities.
Edelweiss Wealth Management has also seen an increase of 677% in account openings through EMT, in Q1 FY21 as compared to Q1 FY20. The company’s growth is attributed primarily to customised and unbiased advisory provided to investors through user-friendly and advanced technology platforms that have been developed in-house, enabling easy investment and trading in financial markets. In light of such growth and demographics, Edelweiss Mobile Trader is now expanding its’ reach through the introduction of 3 key regional languages – Hindi, Gujarati and Tamil.
Speaking on this announcement, Edelweiss Wealth Management Head Rahul Jain said the company is poised on the verge of tremendous and unprecedented change and the BFSI industry has kept pace with developments, staying relevant to emerging investor needs.
“The fact that the highest user base for EMT, stems from non-metros, validates our commitment to innovation and client-centric DNA. I am specially proud to share that around 12% of the user base is from Gujarati-speaking non-metro cities while more than 20% of the user base, comes from Hindi-speaking non-metros. Bharat is growing and with this customisation of having EMT UI available in Hindi, Gujarati and Tamil, we have now ensured that they have the necessary tools and advisory, to further compound their wealth,” said Edelweiss Wealth Management Head Rahul Jain.
Edelwesiss Wealth Management offers bespoke solutions and best-in-class services through offline and online models customized to client requirements.
Edelweiss Global Investment Advisors (EGIA) with over Rs 2 lac crores in customer assets, EGIA today enjoys market leadership in each of its advisory businesses. Edelweiss Wealth Management is amongst the top three Wealth Managers in India, while Edelweiss Alternative Asset Advisors (EAAA) is a pioneer in Private Debt in India, with the most diverse alternative platform in the country.
Edelweiss is the largest player in distressed credit in India and has reintegrated temporarily non-productive assets back into the economy, reviving companies, helping banks with higher recoveries and protecting thousands of jobs of employees and SME suppliers. Edelweiss Mutual Fund has grown at a CAGR of 94% since FY15 while the Institutional Client Group business, one of the oldest businesses of the group continues to enjoy a significant market share in the capital markets arena.
EGIA businesses have won several awards in recent years including Asia Money, Asian Private Banker and The Asset award for Wealth Management in 2018. EISAF II (distressed fund) topped Preqin’s 2019 “Global Private Debt League Table” as the Largest in Asia-focused Private Debt Fund in 2018. Edelweiss Mutual Fund won the prestigious mandate to manage India’s 1st CPSE Debt ETF, expected to go afloat later this year.