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MF News Now, no need to carry a laptop while meeting your clients

Now, no need to carry a laptop while meeting your clients

Why NSE NMF II members should download the android app without fail
NSE Feature May 11, 2018

It is impossible to imagine a life today without smartphones. Mobile apps assist us in every aspect of our daily routines from communication and navigation to shopping and entertainment. Taking a cue from this market trend, big brands are moving from mobile-also to mobile-first strategies around their products and services. For example, brands like Quikr, Olx, Uber, and Flipkart now advertise their presence on mobile devices first. Banks and payment gateway companies have already started leveraging mobile networks as a channel for extending their existing payment infrastructure because of the reach and ease of access that mobile offers.

Digital India is the flagship programme of the Government of India. Prime Minister Narendra Modi launched this initiative on July 1, 2015 with a vision to transform India into a digitally empowered society and knowledge economy. “Faceless, Paperless, Cashless” is one of the professed roles of Digital India.

India has become the world’s fastest-growing market for mobile applications on both the Apple ioS and Google’s Android Play Store.

Technology plays a big role in modern day financial services business too. Raj, a senior IFA, moved his business online through NSE NMF ll platform with the desire to spend less time on transactional formalities and more time guiding clients on financial planning. Yet, he was sceptical about installing the android app. He felt it would not be easy to complete client transactions on the mobile screen. 

His views however changed on 31 March when a client called him urgently at 2 pm. The client had forgotten to complete his 80C contribution and wanted to invest in an ELSS fund immediately. Raj was out at the time and had to rush home to get his laptop and complete the client’s transaction. He decided to install the NSE NMF ll android app that very day.   

NSE realised this – just as Raj needed a mobile platform to execute his client’s trades quickly, other advisors too needed a mobile portal to execute transactions on the go. NSE has therefore launched the NFM ll android app with the aim of making transactions effortless for advisors. Let us look at some of the features offered by the mobile app

Onboard new clients

Distributors can generate Investor Identification Number (IIN) for new KYC compliant clients from the app. Thus, instead of carrying your laptop while meeting prospective clients you can pitch your thoughts and complete registration formalities using a tablet.    

Complete transactions on the go

A distributor can initiate financial transactions like purchase, switch and redemption of units, registering a new systematic transaction (SIP, SWP, STP) using the app. This empowers you to complete client transactions even when you are on the move. 

Register client bank accounts and ACH mandate

The app provides functionality to add up to five client bank accounts and ability to register and check the status of ACH mandate for SIP transactions. 

Transact on behalf of clients having an existing mutual fund folio not mapped in NFM ll portal 

NFM ll offers a functionality called ‘Exception Entry’. This allows distributors to execute transactions in folios which are not yet mapped in database, for e.g. folios of direct investors. The app forwards these transactions to the registrar who validates them before execution. This enables advisors to cater to clients even if the client’s portfolio is not reflected in the database.

Generate reports

At present distributors can only generate the transaction history report using the app. However, the NFM ll development team mentioned that they were working on integrating more reports and launching the iOS app soon.

Thus, NSE NFM ll app targets mobile advisors by allowing them to complete key client transactions seamlessly through the phone.  

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2 Comments
Shrikant Bhaskar Tijare · 3 months ago
It's a very good app. I generaly use this app for transaction purpose.
vIRAL dALAL · 3 months ago
When can i expect the IOS app launch
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