With increasing application of payments digitization for different types of transactions in the financial services domain, online transactions in the mutual fund industry is increasingly gaining currency. Based on our interaction with both mutual fund distributors and retail investors we are seeing a lot of interest in adoption of online platforms for investment purposes. Distributors are now recognizing the benefits of online investments over the traditional paper based transactions. The biggest advantage is obviously increasein productivity. Using digital platforms distributors can accomplish tasks spending a fraction of effort and time involved in paper based processes. This frees up time and resources of the distributor to focus on customer acquisition, increasing customer engagement and improving the quality of their services.
Indiabulls Mutual Fund’s SARAL Partner mobile app is a terrific initiative for enabling distributors to help their customers make SIP investments anytime, anywhere through a completely (end to end) online process. Investment can be made for any of the life goals like wealth creation, for saving tax or for utilizing your idle funds.One of the most pleasing features of this app is its ease of use and convenience, which will make the life of both the distributor and the investor much simpler (SARAL).
Distributors will be able to appreciate how simple and efficient the process is. Instead of spending hours filling out application forms, visiting the customer to get signatures and collecting cheques, submitting documents at the AMCs or RTAs office etc, distributors can make SIP investments for their customers in a few minutes by completing the steps listed above using the Indiabulls MF SARAL Partner mobile APP.
Setting up SIPs for existing customers is even simpler. The distributors need to complete the following steps.
Conclusion
We have seen that distributors and their staff usually spend most of their time doing operational tasks. Distributors, especially small IFAs, complain that they do not have enough bandwidth for sales and therefore, are unable to grow their AUM beyond a certain threshold. One important mission we have set for us in Advisorkhoj is encouraging IFAs to adopt technology to manage and grow their business. We are delighted to see a very enthusiastic response from IFAs with regards to the same. If IFAs are not leveraging technology, they run the risk of losing out to competition in the future.
With advancements in IT, distributors can put technology to work for them. Fund houses like Indiabulls MF must be congratulated for their initiative and investment to put technology at the fingertips of IFAs. Indiabulls Mutual Fund SARAL Partner APP is a testimony of digital technology use case. It is simple, convenient and a highly efficient productivity tool. If you are an Indiabulls MF empanelled distributor we encourage you to use to the SARAL Partner APP. If you are not empanelled with Indiabulls MF and wish to be, you can download the empanelment form from http://www.indiabullsamc.com/distributor-empanelment-form or visit the Indiabulls MF office in your city.
Mutual Fund Investments are subject to market risk, read all scheme related documents carefully.
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