Mutual funds embrace digital expansion for next leg of growth

Industry officials say going digital is the new mantra for further expansion among fund houses

 

The mutual fund (MF) industry has brought in a slew of web and smartphone-based innovations to help easy on boarding of customers. All major fund houses have their mobile applications that provide information about schemes and allow easy transactions without going to a branch. 

Some of the mobile applications include Ipru Touch by ICICI Prudential Mutual Fund, FinGo from Aditya Birla Sun Life MF, UTI Buddy from UTI MF, Reliance Mutual Fund App and EasyApp from Axis Mutual Fund. Besides registrar and transfer agent Computer Age Management Services (Cams) has also stepped up its digital presence by launching