HDFC Securities Uses AI To Offer Brokerage Services

HDFC securities, one of the leading stock broking company in India, today announced its new initiative of integrating stock search with HDFC Bank’s Facebook Messenger Chatbot. This new feature, in collaboration with – an artificial intelligence company, makes HDFC securities the first in the industry with such a unique arrangement.

Essentially, this feature allows the user on HDFC Bank’s Facebook messenger to search/track stock prices via their chatbot, from where customer can trade in stocks using HDFC securities platform.

Recent trends giveaway that a considerable amount of time is largely spent on social networking sites. Owing to which HDFC securities would also be equipping users with some more additional features soon on the chatbot which is already equipped with utility bill payments and entertainment services among others. The brokerage house looks at enhancing the software, which would then allow investors to directly create portfolios, stock watch lists, buy and sell stocks on chat, get stock trends, receive recommendations for investments etc.

Nandkishore Purohit, Head – Digital Business and Strategy at HDFC securities added “Nothing can be more exciting if business is translated into a social language. Integrating with HDFC Bank’s Facebook Messenger, we are optimistic to introduce a millennial appeal of investing in equities through one of the largest social media platforms. With a simple user interface, this unique offering will make checking a stock quote and investing in it as casual as a friendly conversation over messenger.”

Sachin Jaiswal, CEO – said “Expanding to transactional financial services, has developed a complete new way of trading over chat, making it much more simpler and quicker for a user to search share prices and trade on HDFC Bank OnChat Facebook Messenger. It is as simple as saying “Tell me the stock’s price of HDFC Bank ltd.” With the high response of 40% repeating customers, we’ll be building more use cases like tracking stocks, creating a portfolio, setting up a watchlist etc.”

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