The Brokerage as a Service by HDFC securities provides a versatile and profitable approach for institutions and fintech companies to enhance their service offerings and generate additional revenue streams. By integrating the robust trading platform, partners can deliver a seamless and powerful trading experience to their clients without needing to develop them from scratch.
HDFC securities offers two main integration options for BaaS: SDK Integration and Open API Integration. The SDK Integration is available for both Android and iOS platforms, enabling partners to embed the HDFC SKY SDK into their mobile applications, providing users with a complete onboarding journey and trading functionalities. The Open API Integration allows partners to integrate HDFC SKY APIs into their websites or mobile platforms, enabling seamless order placement and management.
"Innovation and client-centric solutions are at the core of HDFC securities' mission. With Brokerage as a Service, we are offering institutions and fintech companies a unique opportunity to integrate our advanced trading platform, HDFC SKY, into their own ecosystems seamlessly. This initiative underscores our commitment to empowering our partners with the tools and capabilities to enhance their service offerings and drive revenue growth," said Mr. Sandeep Bhardwaj, Chief Operating & Digital Office at HDFC securities Ltd.
HDFC securities has designed flexible business models to accommodate various partner needs. These include the Brokerage Revenue Sharing Model, where partners earn a share of the brokerage revenue; the Platform Usage Fee Model, allowing partners to charge customers for using their platform without involving brokerage sharing; the Hybrid Model, combining platform usage fees and brokerage revenue sharing; and the Referral Only Model, ideal for online media publications focusing on user referrals.
BaaS enhances partners' capabilities by providing a robust trading experience through their platforms, opening new revenue opportunities through flexible business models, and ensuring seamless integration with SDK and API solutions. Comprehensive support and resources from HDFC securities further bolster the service's value.
The customization process for BaaS involves several steps: initial consultation and agreement, technical integration preparation, integration and development, compliance and security checks, and user acceptance testing (UAT).
Institutions benefit from BaaS by enhancing their service offerings, generating new revenue streams, and attracting and retaining clients. It allows institutions to offer their clients access to HDFC SKY, a comprehensive trading platform with advanced features. Institutions can earn a share of brokerage fees or monetize their platforms by charging platform usage fees. Offering a sophisticated trading platform can attract more clients and increase client engagement, boosting client acquisition and retention.
