With the digital revolution, investment processes have become easier and paper-less and the turnaround time has reduced considerably. Further, due to the rise of mobile-based applications, paying monthly bills, mobile banking or even investing in financial instruments such as fixed deposits, pension plans, trading in the stock market has been made easy. Having said that, many companies have also begun integrating their services with mobile applications, such as WhatsApp, to provide a wide range of Mutual Fund (MF) services.
Being one of the most popular apps, WhatsApp has become a preferred mode. Moreover, the services offered by various Asset Management Companies (AMCs) and distribution platforms are at various stages of functionality with the objective of eventually offering a multitude of services to its customers.
“There is a range of services a customer can avail through WhatsApp. These could be requesting for one’s reports on a fund, asking for a service like change of address or even buying an MF, in some cases,” says Madhu Sudhan, Head, Digital Business, Motilal Oswal AMC. Recently in August 2019, Computer AgeBy Companies have begun integrating their mutual fund services with mobile applications Management Services (CAMS) started their chatbot on WhatsApp to provide a wide range of MF services that can be used for transacting and managing investments across 15 MFs.
This story is from the March 2020 edition of Outlook Money.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the March 2020 edition of Outlook Money.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
HOW TO BEAT CURRENCY EXCHANGE RATE WOES
If you are travelling abroad, you will have to change your Indian rupees into either dollars or euro or to the local currency. Here's how to choose the right currency for a seamless holiday experience abroad
Why A New Year Goal Is Good
Setting a new year goal can give you a psychological boost to improve yourself and help you set aims and targets while also helping you declutter and let go of the past
SENIOR CITIZEN HOUSING: THE HURDLES TO CROSS
Buying a home is not only a dream of youngsters, many retirees also want to buy a home, but for that, they have to overcome adverse situations and many challenges
Axing Taxes And Beating Benchmarks
When investing for the long term and that too in a product with a lock-in period, the decision between the best and the consistent performer becomes critical.
Use Gold To Optimise Portfolio
Returns from gold are expected to be decent going forward, but more importantly, it acts as a portfolio diversifier and helps reduce volatility
The Risks That Invoice Discounting Entails
Invoice discounting can give potential high returns over a short period of time, but lack of regulation make them a high-risk investment
2024: CHANGES THAT MATTER
The year 2024 has been a game-changer for the Indian regulatory landscape, with the Securities and Exchange Board of India (Sebi), Insurance Regulatory and Development Authority of India (Irdai), the Reserve Bank of India (RBI), the Pension Fund Regulatory Development Authority (PFRDA) and the Income Tax Department proposing key changes that will benefit investors, policyholders, pensioners, taxpayers and consumers alike. We give you a lowdown on five key changes proposed by each of these regulators
10 Stock Picks For 2025
Top analysts recommends 2 stocks each and the reasons why they should be a part of your portfolio
VOLATILITY AHEAD: PLAY SAFE
After an exhilarating rally till September 2024, the Indian stock market finds itself in turbulent waters and is expected to continue to do so in 2025. We give you some stock picking strategies that will help you play safe. We also have a list of 10 stocks recommended by experts which you can consider for your portfolio
Stay Ahead Of AI-Powered Cyber Fraud
AI has become an integral part of our lives, right from customer service at banks to insurance claims. But it has now become a powerful arsenal for the fraudsters too who are increasingly using AI to scam individuals and corporations alike to commit fraud. The key is to stay vigilant
