JM Financial has launched a platform where distributors and their clients can invest in fixed deposits online. The platform will provide both sub-broker assisted transaction and investor self-initiated transactions in corporate fixed deposits.
The advantage of this platform is that the investor will continue to control the process, by way of authenticating or approving the transaction, without giving any Power of Attorney to debit their account. They would be able to approve the transaction either using the desktop or mobile application. Distributors empaneled with JM Financial Services will be able to offer the services with one time account opening and limited paper work. The platform will be integrated with the Central Know Your Customer Registry (CKYC) to eliminate the need for submission of KYC for every transaction.
The platform will also allow the investors to have access to a consolidated view of all their investments in one place.
Surajit Misra, Executive Director and Head, JM Financial Services said, “We constantly interact with our distributors to understand what they need and based on their feedback, are pleased to launch this solution that will allow them to not just provide choice of financial products to their end clients, but also deliver flexibility to place online transactions through platform. We see this solution increasing efficiency and offering more time to them for relationship building and customer interactions”
The company said that this platform will help its distributors to meet the needs of the more than 60% of investors who want a combination of digital capabilities as well as access to expert personal advice.
