Bajaj Finserv AMC is banking on differentiated products and technology to set itself apart in the mutual fund industry, according to its Managing Director Ganesh Mohan.
“There are three broad areas where we need to differentiate as an AMC. The first is synchronicity, i.e. ensuring everything we do is authentic and aligned. The second is in terms of our products. And the third is technology, which is a big area of focus right now," he said during a market outlook presentation for the media.
WhatsApp for investing
A key part of the AMC’s digital strategy has been integrating WhatsApp for both distributors and investors. “WhatsApp is something everyone uses. We’ve been developing our app for several years, but we saw a big opportunity to use WhatsApp for distribution and investor servicing,” he said.
He noted that when the company launched its app, it also introduced a WhatsApp feature that allowed distributors to complete onboarding in under a minute. That initiative, he said, gave them almost 25,000 distributors in one minute.
For investors, the platform enables access to transaction statements and other services without needing to log into an app or navigate menus.
QR Codes to ease distribution
Another innovation has been the use of QR codes to streamline investments. “After COVID, everyone started using QR codes, but the industry still hadn’t tapped into them fully,” Mohan said.
“We created scheme-specific QR codes that distributors can send to investors on WhatsApp. The investor scans, enters a few details, and the transaction is done. That makes the entire journey much more convenient—for both investors and distributors," he explained.
Salary-based SIPs for employees
Bajaj Finserv AMC is also working with companies to facilitate automated salary-based investing. “We created a tool where, if an employee wants to invest a certain amount, that amount gets debited before it hits their bank account,” he said. This solution, he explained enables group SIPs and allows employers to offer mutual fund investments as an employee benefit. “It’s a great convenience. It helps with retention and can be a big draw, especially for mid-sized companies,” he said.
“We’re building better investment products, using technology to make transacting easier, and offering solutions that have a clear reason to exist,” he said, adding that their goal is to deliver smarter, more relevant investment options backed by seamless digital experiences.
Savings+
Mohan also highlighted a product innovation called Savings+, designed to make better use of idle funds lying in savings accounts. “Savings accounts are giving just 2.7 percent, fully taxable,” he said, adding, “We offer better alternatives where even small amounts (Rs 50,000 or less) can earn more, remain liquid, and be more tax efficient.”
He pointed out that Indians have over Rs 15 lakh crore in savings accounts, leading to nearly Rs 80,000 crore in lost interest income each year. “That’s close to $10 billion of missed returns,” he said.
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