Business · India Bureau
Global investing should not mean extra bureaucracy: INDmoney CEO
INDmoney's chief executive has called for streamlined security protocols in cross-border investing, citing recent unauthorised liquidations at rival platform Stockal. The company is implementing multi-factor verification for logins and trades while housing investor accounts in GIFT City.
LSN India ·
Ashish Kashyap, chief executive of INDmoney, has advocated for a balanced approach to security in global investing that does not burden users with excessive procedural requirements. His remarks come as the fintech sector grapples with safeguarding investor assets while maintaining user experience standards.
The commentary follows unauthorised stock liquidations reported at Stockal, another investment platform, highlighting vulnerabilities in account security infrastructure. Kashyap emphasised that robust protective measures should be implemented without compromising accessibility for retail investors seeking international exposure.
INDmoney is deploying multi-factor verification for both login credentials and trading transactions as part of its security framework. The platform houses investor accounts in GIFT City, Gujarat's international financial services centre, positioning itself within India's regulatory framework for offshore investment activities.
The move reflects broader industry efforts to establish trust in digital investing platforms following security incidents. As cross-border investment gains traction among Indian retail investors, platforms are balancing regulatory compliance with user convenience to maintain competitive positioning in the market.