Mumbai (Maharashtra) [India], August 24 (ANI/BusinessWire India): FinTech platform Angel Broking Limited (Angel Broking or ‘the Company’) celebrated 25 years of success this month by rebranding to Angel One, a one-stop financial services brand. The two-and-a-half decade long journey is filled with milestones, including an IPO, in the history of shaping the digitization of the stockbroking industry, and the evolution of a traditional broker into a FinTech platform.
In its all-new avatar, the Company remains committed to building platforms with advanced technologies and adding many more successful years of growth.
Keeping the first-time investors, especially Millennials in mind, the innovation-driven company amplified technology-based services and democratized financial services for every Indian, especially those in Tier-2, Tier-3 and beyond cities. With nominally priced brokerage services under iTrade Prime, Angel Broking opened the doors to wealth creation for millions who did not have access to capital markets.
The Company continued to change the investment landscape by launching several state-of-the-art solutions like Smart Store, Smart Money, UPI Autopay for Mutual Funds, and chatbots, among others. Its open-architecture-based platform, SmartAPI, also enabled the brand to fulfil its commitment to provide clients with the most user-friendly solutions.
Leveraging advanced technologies like Artificial Intelligence (AI) and Machine Learning (ML), the FinTech platform, with its mobile trading app, offers seamless execution of trades, relevant market insights, advisory services and investments in overseas stocks.
A brand with a rich legacy
Established as a traditional stockbroking company in 1996, Angel Broking charted an unprecedented growth curve over the years, as it underwent a digital transformation, receiving several awards and accolades for its contribution to the financial services sector. With technology in its DNA, Angel Broking has been responsible for introducing many industry-first concepts such as using walkie-talkies on the trading floor to provide instant confirmation to its clients, being one of the earliest stock broking companies in India to set up a web-enabled back office in 2001, launching internet trading and commodity broking services in 2004 and rolling out its portfolio management services in 2006.
With groundbreaking innovations like the mobile application for stock trading, one of the first in the industry in 2011, Angel Broking established itself as an industry pioneer. Further, it went on to launch ARQ, a rule-based investment engine now known as ARQ Prime, to significantly enhance the online trading experience of its clients.
Transforming into a new-age FinTech platform, Angel Broking evolved from being present through physical branches across the country in 2015 to 100% digital onboarding of direct clients by 2019.
The growing participation of Millennials in trading and investments mirrors the Company’s meteoric rise in the industry. Angel Broking now services more than 5.7 million clients across 98%, or 18,874, of all PIN codes in India. Clocking a solid performance in July 2021, the digital broker recorded 145.6% YoY growth in its total client base, 373% YoY growth in average daily turnover, 63% YoY growth in the number of trades and Rs. 15.55 billion in average client funding book.
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