What is the story about?
India Post Payments Bank (IPPB) has awarded a mandate to Choice Wealth Private Limited to deploy a digital investment platform for its customers, marking a new addition to the bank’s technology-led financial services offering.
Choice Wealth, a subsidiary of Choice Equity Broking and a step-down subsidiary of Choice International Limited, secured the contract following a technical and commercial evaluation process conducted by IPPB, according to the company’s statement.
Under the mandate, a digital investment platform will be rolled out for IPPB’s existing and prospective customers, enabling access to mutual funds and other investment products through mobile applications, web-based interfaces and mATM-compatible devices. The platform is expected to include online mutual fund aggregation, robo-advisory services and related digital investment features.
IPPB operates through the India Post network, which spans all 36 states and Union Territories, covers nearly 650 districts and includes more than 1.64 lakh post offices as banking access points. The bank serves a customer base of over 11 crore, supported by postmen and Gramin Dak Sevaks who provide last-mile financial services, particularly in semi-urban and rural areas.
With the introduction of the digital investment platform, IPPB customers will be able to access investment products alongside existing banking services, potentially expanding participation in formal investment avenues among first-time and underserved investors.
Choice Wealth stated that the platform will follow regulatory and compliance requirements, including data protection and governance standards applicable to digital financial services. The company will provide the technology infrastructure and investment-related capabilities, while IPPB will offer distribution through its nationwide network.
The development aligns with broader efforts to use digital platforms to widen access to financial products and support financial inclusion objectives, especially beyond traditional urban banking channels.
Choice International Limited, the parent group, operates across financial services, engineering and consulting and holds registrations with multiple financial regulators and market institutions in India.
Choice Wealth, a subsidiary of Choice Equity Broking and a step-down subsidiary of Choice International Limited, secured the contract following a technical and commercial evaluation process conducted by IPPB, according to the company’s statement.
Under the mandate, a digital investment platform will be rolled out for IPPB’s existing and prospective customers, enabling access to mutual funds and other investment products through mobile applications, web-based interfaces and mATM-compatible devices. The platform is expected to include online mutual fund aggregation, robo-advisory services and related digital investment features.
IPPB operates through the India Post network, which spans all 36 states and Union Territories, covers nearly 650 districts and includes more than 1.64 lakh post offices as banking access points. The bank serves a customer base of over 11 crore, supported by postmen and Gramin Dak Sevaks who provide last-mile financial services, particularly in semi-urban and rural areas.
With the introduction of the digital investment platform, IPPB customers will be able to access investment products alongside existing banking services, potentially expanding participation in formal investment avenues among first-time and underserved investors.
Choice Wealth stated that the platform will follow regulatory and compliance requirements, including data protection and governance standards applicable to digital financial services. The company will provide the technology infrastructure and investment-related capabilities, while IPPB will offer distribution through its nationwide network.
The development aligns with broader efforts to use digital platforms to widen access to financial products and support financial inclusion objectives, especially beyond traditional urban banking channels.
Choice International Limited, the parent group, operates across financial services, engineering and consulting and holds registrations with multiple financial regulators and market institutions in India.
