India | 30th April 2020: Master Trust has introduced a completely paperless, eKYC, Trading and Demat account opening facility for its stakeholders, both customers and partners. The web based instant account opening offers a one stop solution for all investment needs.
As it is mandatory to complete the KYC process if one wants to open a bank account, trading account, or demat account, the hassle of visiting an institution physically with a KYC form along with acceptable Government identity proofs prevents many from start making investments. However, with the launch of eKYC, Master Trust has taken an initiative to make the process quick, simple and hassle free.
One just needs to fill all the necessary details, upload mandatory documents and select segments in which they want to trade and get started. Once the company verifies the details, it sends a unique account ID and other details to the person who can then proceed to trade on both online and offline platforms. The company has also uploaded Youtube tutorials for both branch eKYC and client eKYC.
The procedure eliminates associated risks, which may occur while filling up physical forms and submitting documents. The automated procedure ensures real-time data transfer without any delays that occur during manual intervention. Also, opening an instant account via eKYC does not require any additional payment to the broker.
Speaking about the initiative, Mr Gurmeet Singh Chawla, Director Master Portfolio Services Ltd said, “In a move towards digitisation of broking industry, we have taken an initiative to launch eKYC integrated instant account opening facility for our partners and customers. Through this initiative, we are hoping to build enhanced customer satisfaction as customers from anywhere in the country will now be able to open a Trading and Demat account without any physical documentation in a matter of minutes and start making hassle free investments.”
He further added, “Investment opportunity should not be limited to people who have easy access to an account opening facility. Paperless account opening will create widespread investment opportunities for people across the country.”
