Saturday Nov 30, 2024
Saturday Nov 30, 2024
Thursday, 2 March 2023 01:46 - - {{hitsCtrl.values.hits}}
Softlogic Stockbrokers, the full-service brokerage arm of Sri Lanka’s trusted financial partner, Softlogic Capital PLC, recently made waves in the financial services sector by introducing an industry-first digital solution for new investors joining the Colombo Stock Exchange.
Through this innovation, new investors have the ability to open their Central Depository System (CDS) accounts on the CSE, in under an hour, shattering the 24-48 hour account opening timeline practiced in the industry. The innovation comes on the back of Softlogic being the first in Sri Lanka to onboard over 5,000 clients through a 100% digital process, placing the company on the path for explosive growth.
Deployed in November 2022, the online platform is the first of its kind, and propels the Sri Lankan stock market forward by offering a seamless digital service for prospective investors to invest in the CSE with greater ease. The online platform is user-friendly and intuitive, making the account opening experience convenient, faster and more efficient.
Softlogic Stockbrokers Director/CEO Dihan Dedigama said: “We are excited to launch a digital platform which makes investing in the CSE accessible to anyone from anywhere at any time. Our teams have worked hard to develop this solution, and we are proud to be the first stockbroker company in Sri Lanka to offer this service.”
“Being the first to open 5,000 accounts digitally, we have been at the forefront of technological innovation and the online platform clearly displays our commitment to adapt, whilst providing our clients with the best possible trading experience. We look forward to continuously drive innovation and lead with novel solutions which will transform Sri Lanka’s capital market making it accessible in all parts of the country without the requirement for brick and mortar infrastructure,” Dedigama added.
Over the past decade, Softlogic Stockbrokers has grown from servicing a handful of retail and institutional investors in their investments in stocks to supporting thousands of local and international clients to expand their wealth. The company is also home to a dedicated research team that is constantly studying the volatile market situations to produce market insights supporting their clients in making best financial decisions.
This is achieved via collection of regular market and economic updates, investment ideas via social media platforms which includes WhatsApp updates, audio reports, webinars and in-depth research reports identifying new investment opportunities.
Executive Director Iftikar Ahamed said: “This solution was born out of a desire to digitise the elaborate financial system and encourage more Sri Lankans to begin investing in the stock market. Like most other sectors, it is vital that the finance industry is equipped to meet the dynamic needs and expectations of modern investors, especially in terms of convenience and time-efficiency. “Customers today need quick and easy solutions, and that’s exactly what our online account opening system provides. We believe that this innovative offering will open the stock market to a whole new segment of prospective investors.”
Portraying the company’s domain of expertise in research, Softlogic Stockbrokers was also recently recognised at the ‘CFA Capital Market Awards 2021’ for the best equity research report in Sri Lanka.
In addition to conducting media talk shows, offering trilingual investment advisories, public discussions with regulators and organising local investor education forums in partnership with the Colombo Stock Exchange, the novel CDS account opening online platform will bring in new investors – positioning Softlogic Stockbrokers ahead of the curve once again.
