Indian robo-adviser taps into growing middle-class market

By Moriah Costa on Wednesday 9 August 2017

Savings and Investment

A brokerage firm in Mumbai is expanding its robo-advice technology.

A brokerage firm in Mumbai is expanding its robo-advice technology.

Motilal Oswal Securities Limited is launching its latest foray into the automated investment market, called Target Investment Platform (TIP), the first of its kind in India.

The offering uses technology that already powers another Indian robo-advice solutions company, called Valuefy. The automated technology behind the product tells clients where to invest, how much to invest and for how long they should invest.

India’s middle class is expanding rapidly giving fintech firms an opportunity as  the newly wealthy look to invest their growing incomes. Between 2004 and 2012, the country’s middle class doubled to 600m people, nearly half of the entire population of India.

The partnership between Valuefy and Motial Oswal will help both the middle and wealthy clients plan for retirement, their children’s education, and more.

"Valuefy's technology makes TIP a unique platform in the industry which uses data sciences, advanced algorithms and global best practices,” said Sharad Singh, CEO of Valuefy. “I am extremely excited about this partnership with Motilal Oswal. The use of technology, especially analytics, will be a key driving force in the new world of investment management, and I am truly delighted to see Motilal Oswal taking a leadership position here."

The wealth technology platform was founded in 2010 and since then has grown to more than USD $150m in assets under management and 300,000 customers in India and across the world. The white label platform also offers analytics programs for portfolio managers, and a financial advice system for wealth managers and advisers.

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