RAKBANK launches in-app global equities trading with access to 30,000 stocks and ETFs
RAKBANK has launched a digital equities trading service that allows customers to invest in more than 30,000 global stocks and exchange-traded funds (ETFs) directly through its mobile banking app.
The new service, powered by financial technology company GTN, provides access to international markets, including the US, UK and Europe. Customers can complete the onboarding process and trade through the bank's existing app without opening a separate brokerage account.
US equity trades start at $1 per transaction, making the service accessible to customers with different investment budgets and objectives.
RAKBANK said access to UAE equities is planned for a future phase, further expanding the investment options available through its digital platform.
Investment options brought together in one app
The launch adds global equities to RAKBANK's expanding digital wealth offering, which already includes investment funds, bonds, structured products, precious metals, foreign exchange and digital assets.
The bank aims to provide customers with a single platform to manage their everyday banking and investments across conventional and alternative asset classes.
Shehzad Hameed, Managing Director of Retail Banking at RAKBANK, said the new service was designed to make investing as convenient as everyday banking.
He said customers could access thousands of global stocks and ETFs through a familiar platform, adding that the launch was another step towards positioning the RAKBANK app as a comprehensive destination for banking and wealth management.
GTN provides trading infrastructure
RAKBANK has partnered with GTN, a global investment and trading infrastructure fintech, to power the service.
GTN provides the brokerage technology, connectivity to international markets and trade execution infrastructure behind the offering.
Damian Bunce, CEO of GTN Middle East, said the partnership brought together the companies' capabilities to expand RAKBANK's wealth offering. He also highlighted the focus on the customer experience in developing the service.
The Digital Equities proposition is now available to RAKBANK customers across all segments, giving them access to international investment opportunities through the bank's mobile app.
