HDFC Mutual Fund leverages WhatsApp to ease online investment process

HDFC Mutual Fund (MF) is betting big on WhatsApp as it looks to further ease the online investment process and expand its reach in the competitive asset management industry.

 

The fund house recently launched an industry-first initiative, 'Tap2Invest', an investment app-like interface on WhatsApp that allows investors to put in lumpsum amounts or start a systematic investment plan (SIP) in any of HDFC MF's schemes.

 

At present, the facility is only available to HDFC MF’s existing know your customer (KYC)-verified investors.

 

According to the fund house, the feature will be extended to new investors in the next phase. Other features available on investment apps, like investment dashboards and redemption options, will also be added to the WhatsApp interface.

 

“This new WhatsApp-based Tap2Invest service is designed to provide a seamless, tap-based experience, making it easier for investors to initiate and manage their mutual fund investments. By integrating a familiar platform like WhatsApp with a user-friendly interface, we aim to enhance accessibility and ensure that investing remains a hassle-free process for our customers,” said Navneet Munot, managing director and chief executive officer, HDFC Asset Management Company (AMC).

 

While fund houses have their own apps and websites to facilitate investments, the bulk of their direct plan investments comes through third-party investment apps.