Dialog enables digital stock trading on CSE via Genie Fintech

Sri Lanka’s premier fintech app, genie, pow- ered by Dialog, has launched an innovative feature that allows its users to set up a Central Depository Systems

(CDS) account, add money, place orders to buy and sell stocks on the Colombo Stock Exchange (CSE) and withdraw funds from their trading account maintained with the broker, and manage their stock portfolio, from their mobile phone. Softlogic Stockbrokers Pvt Ltd [SSB] is the first broker to partner with genie in providing these brokering services within the app.

The seamless and quick end-to-end CDS account opening process has a remote verification of the KYC (Know Your Customer), which eliminates the need for physical visits or cumbersome paperwork. Softlogic stockbrokers will facilitate the CDS account opening once the customer is verified and approved by them.

Users can fund their trading account seamlessly using the payment instruments on the genie app which facilitates transfers from their genie digital saver and other bank accounts. Funds can also be transferred to the trading account via an interbank transfer from the user’s bank, using the CEFT network where funds would be instantaneously credited to their trading account.

Genie is the first and only app in Sri Lanka to facilitate such fund transfers directly to a trading account digitally brining unprecedented convenience and ease of operations to both customers and stockbrokers.

Customers can trade in shares listed on the

CSE by using the buying and selling features on the Genie app during market hours and also they can place orders during off-market hours.