20 Aug 2024

HDFC Bank's Stock Rises as Subsidiary Launches 'Brokerage as a Service' for Institutions and Fintechs

HDFC Bank's shares are currently trading at Rs. 1642.25, marking a rise of 10.70 points or 0.66% from its last close of Rs. 1631.55 on the BSE.

The stock opened at Rs. 1629.95, reaching a high of Rs. 1643.70 and a low of Rs. 1628.15 during the trading session. A total of 150,224 shares have been exchanged so far.

This 'A' category stock, with a face value of Rs. 1, hit its 52-week high at Rs. 1791.90 on July 3, 2024, and a 52-week low of Rs. 1363.45 on February 14, 2024. Over the past week, the stock's high and low were Rs. 1643.70 and Rs. 1603.10, respectively. The company's current market capitalization stands at Rs. 12,48,968.54 crore, with institutional investors holding 82.57% and non-institutional investors holding 17.43%.

HDFC Bank’s subsidiary, HDFC Securities, has introduced a new solution called 'Brokerage as a Service' (BaaS), aimed at empowering institutions and fintech firms. This service allows partners to integrate HDFC Securities' advanced trading platform, HDFC SKY, into their own apps and websites, providing comprehensive trading functionalities.

The BaaS offering from HDFC Securities presents a flexible and profitable opportunity for institutions and fintech companies to enhance their service offerings and create new revenue streams. By incorporating the robust trading platform, partners can offer a seamless and efficient trading experience to their clients without having to build the technology from the ground up.

HDFC Securities provides two main methods for integrating BaaS: SDK Integration and Open API Integration. The SDK option supports both Android and iOS, allowing partners to embed the HDFC SKY SDK into their mobile apps, delivering a complete onboarding process and trading features. The Open API option enables partners to integrate HDFC SKY APIs into their websites or mobile platforms for seamless order placement and management.

HDFC Bank is one of India's leading banks, offering a wide range of financial products and services through various distribution channels, including an extensive network of branches, ATMs, phone banking, net banking, and mobile banking.