Trading on the Nairobi Securities Exchange has always been an offline venture, requiring traders to either visit their stock brokers anytime they want to buy a new set of shares.
However, NIC Securities customers will now be able to buy and sale their shares from the conevenience of their mobile phones with the newly revamped NIC NOW Mobile Banking app set to allow customers to access the Nairobi Securities Exchange from anywhere and can trade shares at their own convenience.
“This flexible trading platform provides extreme mobility by bringing the NOW factor to the NIC Securities clients investment experience. Customers can now trade whenever they want and wherever they are” said NIC Securities’ General Manager Catherine Karita.
Today’s launch of a revamped app will allow NIC Securities clients to have instant access to their trading accounts, funds and the securities exchange in a simple, user friendly and phone compatible environment. Trades can be placed and managed on the go through app via its simple, intuitive interface, which was designed from the ground up to function seamlessly on all mobile devices.
Presenting it to TechMoran, Samuel Gichohi said the app ensures that a client’s funds and the markets are never far from reach. It gives clients ability to view their account status, access stock prices, retrieve statements, view portfolio valuations and get instant market updates and tips. Gichohi says the app is geared towards enabling NIC Securities client’s to place informed buy and sell orders seamlessly.
The app is the first to be rolled out following the move by the Capital Market Authority (CMA) allowing the Nairobi Securities Exchange to roll out rules and structures allowing Direct Market Access (DMA) earlier this year. This allows investors to start trading without physically placing orders with brokers and make market more efficient.
The NIC NOW Mobile Banking app is available for Android, Windows, iOS or Blackberry Smartphones as a free download. Once a customer registers, they are able to download the app and using the Security credentials provided by the bank able to access the app.