EbixCash Partners with Axis Securities to Offer Integrated 3-in-1 Savings, Demat and Trading Account Services to its Customers

Rhea-AI Summary

EbixCash Limited has partnered with Axis Securities to enhance trading services for its customers. This collaboration enables a seamless 3-in-1 account integration for savings, demat, and trading, facilitating online trading in stocks and various investment instruments. EbixCash, a subsidiary of Ebix, Inc. (NASDAQ: EBIX), aims to simplify investment transactions and revolutionize the customer investing journey through this strategic alliance, leveraging Axis Securities' expertise in investment products and technology.

Positive

• Partnership with Axis Securities allows for a seamless 3-in-1 account for customers, integrating savings, demat, and trading.
• Access to a comprehensive online trading platform empowers EbixCash customers to trade stocks and various investment products.
• Enhancement of user experience in investment transactions aims to revolutionize the trading experience for customers.

Negative

• None.

• In Line with EbixCash’s Strategic Approach, Partnership Offers Seamless Service Enabling the Digital Journey of Indian Consumers

NOIDA, India, March 23, 2022 (GLOBE NEWSWIRE) -- EbixCash Limited, a technology enabled provider of digital products and services in the B2C, B2B and financial technology arena, through an integrated business model, today announced a strategic agreement with Axis Securities, a wholly-owned subsidiary of Axis Bank, to provide end-to-end trading services to customers of EbixCash. The association offers a 3-in-1 account to the customers of EbixCash, allowing them to integrate savings, demat and trading accounts.

With this partnership, EbixCash customers now have access to the seamless online platform of Axis Securities, empowering them to buy and sell stocks and other investment products. The customers can also opt for various investment instruments, including mutual funds, SIPs, investment advisory, portfolio management services, along with the option of opening a trading or demat account.

EbixCash is a subsidiary of Ebix, Inc. (NASDAQ: EBIX), with a leadership position in key businesses that it operates in, with a “phygital” strategy that combines over 650,000 physical agent distribution outlets throughout India and Southeast Asia as of December 31, 2021; with a Omni-channel online digital platform that offers its products and services encompassing domestic and international money remittance, foreign exchange (Forex), pre-paid gift cards, utility payments, travel services, and technologies across insurance, bus information systems, lending and wealth management in 75+ countries.

B Gopkumar, MD & CEO, Axis Securities said, "We are excited about the collaboration with EbixCash as we feel this is a great opportunity for us to bring value to the customers. By leveraging our deep digital and domain expertise in the fields of research, investment products, and technology, we are confident this partnership will provide best-in-class investment services to their domestic and NRI clients.”

Robin Raina, Chairman of the Board, EbixCash said, “We are glad to onboard Axis Securities to simplify investment transactions for our customers. We aim to enhance their investing experience with ease and convenience through a completely digital and seamless 3 in 1 platform. Our objective is to revolutionize the trading experience and help customers transform their investing journey.”

About Axis Securities Limited

Axis Securities Limited (ASL) is a proud subsidiary of Axis Bank – India’s 3rd largest private sector bank. With a robust branch network across India, ASL offers retail broking services under its flagship brand AxisDirect. AxisDirect engages in offering simplified investment solutions to customers. It offers a bouquet of investment products to its customers e.g. Equities, Mutual Funds, SIPs, IPOs, Derivatives, Bonds, NCDs, ETFs, and Company Fixed Deposits. With over 3 million customers, AxisDirect is one of the fastest-growing players in the industry. For more information, visit the Company’s website at www.axisdirect.in

ASL Disclaimer:

Investments in the securities market are subject to market risks. Read all the related documents carefully before investing. Axis Direct is a brand under which Axis Securities Limited offers its retail broking and investment services.

Trading Member| Axis Securities Limited,CINNo.U74992MH2006PLC163204 | SEBI Single Reg. No.- NSE, BSE,MSEI, MCX & NCDEX – INZ000161633 | ARN- 64610 SEBI-Research Analyst Reg. No. INH 000000297 IRDA Corporate Agent (Composite) Reg. No. CA0073 | Portfolio Manager Reg. No.- INP000000654 | SEBI Depository Participant Reg. No. IN-DP-403-2019 |Investment Advisor Reg No. INA000000615. Registered Office Address - Axis House, 8th Floor, Wadia International Centre, P.B. Marg, Worli, Mumbai-400025. In case of any grievances please write to: customer.grievance@axisdirect.in. Mutual Fund investments are subject to market risks, read all scheme related documents carefully. Axis Securities Limited - ARN-64610-AMFI-Registered Mutual Fund Distributor.  ASL is just acting as a distributor of Bonds and Debentures. These products are not Exchange-traded products and all disputes with respect to the distribution activity, and Products and services not traded at the Exchange would not have access to Exchanges' investor redressal forum or Arbitration mechanism. Any communication/information sent to clients on phone numbers or e-mail ids registered with the Trading Member is meant for client consumption and such material should not be redistributed. Brokerage will not exceed the SEBI prescribed limit.

About EbixCash

With a "Phygital” strategy that combines over 650,000 physical agent distribution outlets throughout India and Southeast Asia as of December 31, 2021, to an Omni-channel online digital platform, the Company’s Financial exchange portfolio of software and services encompasses domestic and international money remittance, foreign exchange (Forex), pre-paid gift cards, utility payments, travel services and technologies for insurance, bus information systems, lending and wealth management across 75+ countries including India. EbixCash has Forex operations in approximately 16 international airports, including Delhi, Mumbai, Mumbai, Hyderabad, Chennai and Kolkata. EbixCash is a leader in the international remittance business based on gross transactional value. EbixCash, through its travel portfolio (Via.com and EbixCash.com), is one of the leading travel exchanges based in India and catering to Southeast Asian markets, with over 517,000 agents and approximately 17,900 registered corporate clients. EbixCash's financial technologies business offers software solutions to various clients in the areas of wealth, asset and lending management, insurance and bus information systems. EbixCash's business process outsourcing services provide information technology and call center services to a variety of industries. For more information, visit the Company’s website at www.ebixcash.com

EbixCash Disclaimer:

EbixCash Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its equity shares and has filed a draft red herring prospectus (“DRHP”) with the Securities and Exchange Board of India. The DRHP is available on the website of the SEBI at www.sebi.gov.in as well as on the websites of the book running lead managers, Motilal Oswal Investment Advisors Limited at www.motilaloswalgroup.com, Equirus Capital Private Limited at www.equirus.com, ICICI Securities Limited at www.icicisecurities.com, SBI Capital Markets Limited at www.sbicaps.com and YES Securities (India) Limited at www.yesinvest.in, respectively, and the websites of the stock exchange(s) at www.bseindia.com and www.nseindia.com, respectively. Investors should note that investment in equity shares involves a high degree of risk and for details relating to such risk, see "Risk Factors" of the RHP, when available. Potential investors should not rely on the DRHP for any investment decision.

About Ebix, Inc.

With approximately 200 offices across 6 continents, Ebix, Inc., (NASDAQ: EBIX) endeavors to provide on-demand software and e-commerce services to the insurance, financial services, travel, healthcare and e-learning industries. In the Insurance sector, Ebix’s main focus is to develop and deploy a wide variety of insurance and reinsurance exchanges on an on-demand basis, while also, providing Software-as-a-Service ("SaaS") enterprise solutions in the area of CRM, front-end & back-end systems, outsourced administration and risk compliance services, around the world.

Through its various SaaS-based software platforms, Ebix employs thousands of domain-specific technology professionals to provide products, support and consultancy to thousands of customers on six continents. For more information, visit the Company’s website at www.ebix.com

CONTACT:

Darren Joseph                                                                        
678 -281-2027 or IR@ebix.com 

David Collins, Chris Eddy
Catalyst Global - 212-924-9800 or ebix@catalyst-ir.com

FAQ

What is the partnership between EbixCash and Axis Securities about?

EbixCash has partnered with Axis Securities to offer a seamless 3-in-1 account for savings, demat, and trading, enhancing trading services for customers.

How will EbixCash customers benefit from the Axis Securities partnership?

Customers will gain access to an online trading platform that allows them to trade stocks and various investment products, simplifying their investment transactions.

What is the significance of the collaboration for EbixCash and Axis Securities?

The collaboration enables EbixCash to provide enhanced investment services and improve customer experience through Axis Securities' expertise.

When was the partnership between EbixCash and Axis Securities announced?

The partnership was announced on March 23, 2022.

What is the stock symbol for Ebix, Inc.?

The stock symbol for Ebix, Inc. is EBIX.