Mutual Funds have always been an important part of the investment puzzle. The industry has taught the world new ways of proliferating wealth and thus winning prosperity. However, like any other industry, Mutual Funds are also not spared from the distinct quandaries put up by the ever demanding clientele. With increasing reliance on technology and globalization, the investment industry also calls in for contemporary strategies backed with secure channels of approaching them.
Primary Challenges Faced by Mutual Fund Industry
Despite designing several ways to make the investment a better experience for the clients, Mutual Fund industry often faces the problem of lengthy formalities and a web of complex intricacies which the clients have to go through. The below-mentioned hindrances are a few to name that ultimately makes the clients reluctant to proceed for investing –
- The hardships in finding a trusted investment advisory
- High brokerage charges and hidden fees
- Dilemma of choosing the right Mutual Funds attuned to their needs
Thus, the presence of such dents in the investment system are gradually making the investors drift away and hence, eroding the roots of the economy. Such a grave situation concurrently calls for an immediate makeover in the existing investment system to pull up the industry from the clutches of the above-mentioned perplexities.
MySIPonline – A Savior for Mutual Fund Industry
With the constant changes emerging in the technical world, there is a sheer need to combine technology with financing to create an eminent platform for channelizing investments. As the saying goes, ‘Necessity is the mother of invention’, the urge of teaching investors new ways of magnifying their money and to create a contemporary investment system is what has driven the existence of MySIPonline.
Apart from largely advocating fintech – one of the fastest-growing areas for venture capitalists – in all its core functions, MySIPonline has constantly commended the potential fintech dwells in changing the face of financial science. With the persistence of making the world a better place to live, people at MySIPonline are on a constant quest for devising systems that will translate the complexities vested in the realm of investment into a more user-friendly literature, and thus help people in charting the best strategies to pool their money by using the following widgets-
• Robotic Advisory – a system through which the clients can get suggestions of the funds in which they should put in their money by simply narrating their risk appetite and projected tenure of investment with the push of some buttons – without asking anyone, without going anywhere.
• Dashboard Facility – a digital kiosk that enables scrutiny, programming and overhauling of the investments with immediate access thus, giving room to expand, redeem, and manage the investments allowing clients the freedom of being the sailor of their own ship.
• Strong Surveillance System (SSS) – ‘With great power, comes great responsibility’ – adhering to this universal truth, security, and confidentiality of the clients is considered a top-notch priority. Deployment of cutting-edge security systems and use of the strongest browser encryption available has what made data-storing safe, thus guarding clientele’s crucial information against any intrusion.
• Transparency – Maintaining high ethical standards in working together with transparency and integrity is the hour’s need for any industry. This level has been achieved without misleading the clients and rendering untrue information inviting solicitation. Also, the clients are not harassed with the surprise of hidden fees or high service charges.
Since the use of time-worn technologies puts a huge barrier in coping with rapid business changes, it’s necessary to keep up the pace with the dynamic business environment in order to dodge obsolescence. With a constant desire of bettering the society, there’s an urgent requirement for achieving technological excellence that surpasses any human expectations to accelerate evolution.
From the desk of the CEO Virendra Singh Ranawat-
“Ideas and execution go hand in hand. 1% is credited to ideas, the rest to the execution.“