INDmoney, an Indian artificial intelligence (AI) and machine-learning based wealth management platform, has teamed up with DriveWealth to offer US stock investing technology to its clients.
The partnership enables the integration of DriveWealth’s technology into INDmoney’s SuperMoneyApp.
Through the SuperMoneyApp, one can manage their money across investments, loans, expenses and taxes in one superApp.
The App offers real-time AI-driven recommendations related to investments.
The INDmoney partnership is the latest in the series of relationships established by DriveWealth on six continents.
This includes an agreement to boost affordable access to the US markets to investors in India, the US, Nigeria and Brazil, and Europe through an offering with Revolut.
Firm’s partnering with DriveWealth can gain access to the latter’s real-time fractional share trading capabilities and customisable API suite.
DriveWealth says that its technology removes impediments that investors have to face with legacy brokers.
It enables investors to buy securities without minimum account balances, high transaction costs as well as full share quantities.
INDmoney head of Investment Products Nikhil Behl said: “We will be one of the first Indian FinTechs to offer a simple, straightforward experience for investing in U.S. stocks.
“This will give our clients access to the much-demanded U.S. listed stocks and exchange-traded funds (ETFs) using fractional trading. This is in line with our philosophy of providing diversified investment strategies to our users on a single SuperMoneyApp.”