‘Digital has now become mainstream in distribution business’

Latest technology tools have helped MFDs in reducing the time required to service customers and business expansion.

Vignesh Kumaran, Head - Digital Products, KFin Technologies shared insights on latest technology tools for distributors that can help them grow business at the recent Cafemutual Confluence 2024. Here are the highlights from this session:

• The key challenge mutual fund industry faces today is to increase the number of customers and helping them with better service with limited number of distributors in the ecosystem
• Indian economy is growing and the number of HNI and ultra HNI customers is increasing rapidly
• Both T30 and B30 cities are seeing good investments from investors
• A large number of investors in India are digitally not well served
• Currently, MFDs are facing many technology-related challenges in gathering data, data management and reporting
• They also face challenges due to obsolete technology, disintegrated systems, high degree of manual processing and changes in regulatory and compliance regimes, serving customers across multiple geographies and slow KYC verification
• Digital has now become mainstream in distribution business
• Latest technology can be used streamline user management and get easier access to user data
• Tech tools can also help MFDs in initiating digital transactions, do advanced analytics for investors, creating reports, analyze customer’s portfolio based on specified metrics and serve customers across geographies better
• MFDs should look at a platform that allows them to do financial planning, compute revenue and help analyze schemes
• KFintech’s IRIS can reduce manual effort and automate workflows

You can watch the video of the entire session here.