Softlogic Stockbrokers launches digital on-boarding

Softlogic Stockbrokers, the full-service brokerage arm of Softlogic Capital PLC, recently made waves in the financial services sector by introducing an industry-first digital solution for new investors joining the Colombo Stock Exchange. 

Through this innovation, new investors have the ability to open their Central Depository System (CDS) accounts on the CSE, in under an hour, shattering the 24-48 hour account opening timeline practiced in the industry. 

The innovation comes on the back of Softlogic being the first in Sri Lanka to onboard over 5,000 clients through a 100 percent digital process, placing the company on the path for explosive growth. 

Deployed in November 2022, the online platform is the first of its kind, and propels the Sri Lankan stock market forward by offering a seamless digital service for prospective investors to invest in the CSE with greater ease. The online platform is user-friendly and intuitive, making the account opening experience convenient, faster and more efficient.

Dihan Dedigama, Director/Chief Executive Officer, Softlogic Stockbrokers (Pvt) Ltd stated, “We are excited to launch a digital platform which makes investing in the CSE accessible to anyone from anywhere at any time. Our teams have worked hard to develop this solution, and we are proud to be the first stockbroker company in Sri Lanka to offer this service. 

Being the first to open 5,000 accounts digitally, we have been at the forefront of technological innovation and the online platform clearly displays our commitment to adapt,whilst providing our clients with the best possible trading experience. We look forward to continuously drive innovation and lead with novel solutions which will transform Sri Lanka’s capital market making it accessible in all parts of the country without the requirement for brick and mortar infrastructure.” Iftikar Ahamed, Executive Director, Softlogic Stockbrokers (Pvt) Ltd added, “This solution was born out of a desire to digitize the elaborate financial system and encourage more Sri Lankans to begin investing in the stock market. Like most other sectors, it is vital that the finance industry is equipped to meet the dynamic needs and expectations of modern investors, especially in terms of convenience and time-efficiency. 

Customers today need quick and easy solutions, and that’s exactly what our online account opening system provides. We believe that this innovative offering will open the stock market to a whole new segment of prospective investors.”