Kotak Mahindra Bank, through its subsidiary Kotak Investment Advisors, on Thursday launched an investment management app, Kotak Cherry. The platform will provide investment solutions ranging from stocks, bonds, mutual funds, fixed deposits and national pension scheme to progressive investment opportunities like exchange traded funds.
The app is enabled as a do-it-yourself (DIY) execution platform. The bank plans to add more features to the platform such as stock baskets, robo advisory, life, medical, general insurance and enable international investing. The bank is targeting to build a base of 10 lakh customers in a year. Additional features will be added by October.
It will truly revolutionise the world of retail investing. We aim to unlock all features, including exhaustive personalisation, open architecture and diverse investment features in a phased manner by October,” KVS Manian, president – corporate, institutional & investment banking, Kotak Mahindra Bank, said at the launch.
In this digital age of automation and one-size-fits all, we at Cherry believe in offering curated solutions that will help de-clutter investment options for our customers. Led by a solid team of credible and experienced professionals, we believe deep domain experience will matter when it comes to investing. It is a one-stop platform that will help people invest like experts,” Srikanth Subramanian, CEO-designate of Kotak Cherry, said.