Mumbai: FinTech platform Angel Broking has unveiled its new identity Angel One, a ‘Digital First’ brand that will serve all financial needs of its clients, including stockbroking services. In its new avatar, the umbrella brand will encompass every existing and future business unit of the entity.
Speaking on the unveiling of Angel One, Prabhakar Tiwari, Chief Growth Officer, Angel Broking Ltd said, “Our goal is to position Angel One as a leading FinTech entity and present ourselves in a contemporary, dynamic, tech avatar to build a strong connect with the new-age GenZ and Millennial Indian investors.”
Angel One is an innovative, and empowering platform that easily resonates with the Gen-Z and millennials, including those from tier 2 and 3 cities. The transformation is a fusion of the company’s brand legacy and ambitions, as the company transcends from a broking house to a ‘one-solution platform for every financial need – ranging from mutual funds to insurance, loans, and others.
Even though the corporate entity name will remain Angel Broking Limited, the consumer-facing master brand will now be called ‘Angel One’. The changes will be seen across all Angel Broking platforms and touchpoints, both external and internal. To fully live up to the ambition of being a digital-first brand, its platforms across the web and app are constantly being updated.
Incorporated in 1996 as a traditional broker, Angel Broking shifted focus too extensively using Artificial Intelligence and Machine Learning as it transitioned into a fully digital platform by 2019. It added state-of-the-art solutions like ARQ Prime, Angel BEE, Smart Store, Smart Money, etc. It introduced a simplified pricing structure of zero brokerage on delivery trades and a nominal Rs. 20 per order for intraday, futures & options, currency, and commodity under its iTrade Prime Plan. As Angel Broking has evolved the digital experience it offers, its open-architecture approach led to several third-party tie-ups, including Vested, small case, Sensibull, and Streak.
Narayan Gangadhar, Chief Executive Officer, Angel Broking Ltd, said, “We have witnessed a growth in revenues after digital transition with our tech-led platforms. We are also in the process of building more products and services, using our deep technology skills, that will widen the scope of offerings to our clients. To effectively communicate this to our clients, we are repositioning ourselves as Angel One.”
Angel Broking is confident about the success of its new positioning, based on the successful transitions done in the past. At present, the company has more than 5 million clients spread across 98% of India’s pin codes, i.e. 18,874 locations. In Q1 FY22, it recorded the highest gross revenue in a quarter at Rs 4,745 million.