Kotak Investment Advisors, a subsidiary of India-based Kotak Mahindra Bank, has launched an investment management platform dubbed Kotak Cherry.
The investment platform will be available to users through a digital application backed by investment managers, according to multiple media reports.
It will provide investment solutions, including stocks, mutual funds, fixed deposits, bonds and National Pension Scheme (NPS) as well as other investment options such as Exchange Traded Funds (ETFs).
Users will be able to use their existing digital broking and banking services to make investments via Kotak Cherry.
Kotak Cherry CEO-designate Srikanth Subramanian said: “In this digital age of automation and one-size-fits-all, we at Cherry believe in offering curated solutions that will help declutter 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.
“Cherry will soon have a complete open architecture, where the app user will soon be able to maintain their banking and broking relationships with providers of their choice, while still benefiting from the full power of our domain experience and curated services.”
Kotak Cherry is currently enabled as a Do It Yourself (DIY) execution platform with plans to turn it into a subscription fee-based model in the future.
The firm plans to introduce additional financial life-stage solutions for Kotak Cherry users over time. These will include robo advisory, stock baskets, an option for international investing as well as life, medical and general insurance.