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  • MF News MF Utilities introduces online application form for distributors

    MF Utilities introduces online application form for distributors

    The facility will help execute faster transactions in mutual funds.
    Team Cafemutual Feb 10, 2016

    In order to reduce the turnaround time for generating Common Account Number (CAN), MF Utilities has introduced a new facility called ‘FillEezz’ for distributors and investors which enables them to fill up the CAN form online, said a press release issued by the company.

    However, distributors and investors are still required to submit the printout of CAN along with signature and supporting documents to MF Utilities POS. To expedite transactions across mutual funds, MF Utilities will move to complete online creation of CAN very soon.

    Through a CAN, investors can invest in multiple schemes. In other words, CAN is a repository for investors to hold multiple folios across the mutual fund industry. The CAN is mapped with investors PAN. Over time, this will give the industry a more accurate data on the number of unique investors.

    While opening a CAN online, those who want to enter the details now and complete the formalities later, there is a provision to save the details and retrieve it at a later date. Moreover, investors can also “clone” the data already filled and available in FillEezz when the same investor intends to open another CAN with different combination by reusing the existing data. This helps in avoiding unnecessary effort of re-entering the data when a CAN is opened for another family member.

    Speaking about FillEezz, V Ramesh, Managing Director & CEO, MF Utilities said, “FillEezz provides a convenient way to open a CAN. MFU is evolving and we are looking at creating more and more convenience for distributors”.

    Also, MF Utilities will soon launch eKYC facility to enable new investors to open CAN seamlessly, added the release.

     

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    2 Comments
    Mohammed faisal · 7 years ago `
    Good job v ramesh ji carry on
    Congratullation for all associate member and team of mfu and users .
    PARAMJIT SINGH PALIA · 6 years ago `
    How can we get training on functioning of MF Utilities ? When a Trg Webinar is planned for Chandigarh ? Thanx
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