Standard Chartered Bank recently launched ‘SC Invest’, an online investment platform, for providing clients with a “complete investment ecosystem” at their fingertips. SC Invest provides an intuitive, customised and end-to-end experience for clients along all ends of the investing spectrum.
It also offers real-time onboarding and pre-generated investment packs for a client who is just starting out. For the aware investor, the SC Invest Platform provides theme-based mutual fund ideas and reports. SC Invest is a one-stop, online investment shop for everyone. SC Invest is available for clients on their mobile apps as well, enabling transactions on the go.
How pre-generated SIP pack works
Pre-generated SIP packs for clients is based on their risk profile.
“This provides a standardised pack of funds for clients based on their risk profile, in baskets of pre-defined amounts. For example, if a client has an aggressive risk-taking ability, SC Invest will provide a set of funds that have a higher risk profile (equity-led) and likewise for someone with a lower risk profile, it will provide funds that are more into fixed-income or balanced asset allocation,” Standard Chartered Bank told FE Online.
“The client simply needs to choose a particular SIP pack (of value ranging from Rs 5000, 10,000 or 15,000) and the set of funds within the pack will be pre-allocated based on the client risk profile and Standard Chartered’s list of high conviction funds matching that risk profile,” it added.
According to the banks, the risk profile of the client is assessed holistically based on their investment objectives, net worth, knowledge and experience of investing in various asset classes and risk vs reward tolerance.
Pause and Resume SIP any time
The users will have the option to pause and resume SIP investments, any time.
“This provides an option for the client to actively monitor their SIPs and pause/resume the instalment debits at any time. A client with an active SIP running could choose to pause the ongoing debits for a period of 1 month / 3 months / 6 months during which no debits will happen. The client can choose to resume the SIPs any time and the debits would restart at the set frequency. This provides complete control to clients who might want to temporarily pause their SIP debits for a specific duration without stopping them,” the bank said.
Key features of the SC Invest platform include:
– Instant investment account setup, real-time for clients with mutual fund KYC
– Pre-generated SIP packs for clients based on their risk profile
– Ability to pause and resume SIP investments, any time
– Comprehensive market insights and reports
– Theme-based mutual fund ideas, allowing clients to choose from fund themes as per their preference, e.g. index funds, blue-chip funds, tax-saver funds etc
– Ability to monitor and control their complete mutual fund portfolio, including Demat holdings at one place
– RM-assisted transactions, authorised by clients through OTP
Disclaimer: Mutual Fund investments are subject to market risks. Please consult your financial advisor before making any investment decision.