With smartphones, mutual funds tap and swipe for customers

Applications help investors and advisors go paperless while on the move

The Rs 16.5-lakh-crore mutual fund industry has embraced smartphones in a big way to reach investors and ease the investment process. Several fund houses have been actively launching phone-based applications in recent months.

Some of these applications include Ipru Touch by ICICI Prudential Mutual Fund, FinGo from Birla Sun Life Mutual Fund, EasyApp from Axis Mutual Fund, and UTI Buddy from UTI Mutual Fund. Besides these, registrar and transfer agents Computer Age Management Services (Cams) and Karvy, too, have gone live with their mobile applications myCAMS and KTrack, respectively.

These applications allow investors to purchase or redeem their investments, with