Mutual funds that provide easy to use platform, personalised investment advice will benefit: Survey

Mutual Fund investment is one of the most preferred investment options available for the salaried sections, especially those who are at the nascent phase of their career.

It's time for the mutual fund houses to improve the end-user experience if they are serious about their online transactions. Photo: Pixabay

Mutual Fund investment is one of the most preferred investment options available to the salaried sections, especially those who are at the nascent phase of their career. Since these investors are tech-savvy and prefer taking their financial decisions on their own, majority of mutual fund houses launched their own mobile apps so they can invest directly in the schemes. However, the experience is not always a good one for investors. In short, what is required is the mutual fund houses to improve the end-user experience if they are really serious about their online transactions.

A survey conducted by IDFC Mutual Fund highlights the need for mutual fund companies to improve the end-user experience by providing a great quality mobile portal for investors to transact online. Of the 495 people surveyed, over 94 per cent of respondents indicated that the security aspect of financial transactions is the biggest concern when investing online. Meanwhile, 78 per cent of respondents highlighted the ease of transaction, especially the ability to invest from their mobile devices, as a key aspect for choosing a fund house.

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What is really worth noting is that as many as 87 per cent of the respondents felt that receiving personalised investment advice is extremely important, as it helps them invest as per their specific risk appetite.

Highlighting the need for mutual fund houses to evolve their customer interface, Vishal Kapoor, CEO, IDFC AMC pointed out that, “In India, financialisation crossed the 50 per cent mark as people have realised that traditional investment avenues such as real estate and gold have not been as rewarding as the opportunity from capital markets in general. They have also understood that mutual funds are a very efficient way to pool in the capital and channelise the investments creating a win-win-win for everyone. However, there is still a long way to go, as ensuring that these individuals can have access to investment avenues on the go, has been a challenge. The solution is now at hand with the digital adoption and usage trends in India indicating that the internet has become more accessible. Mutual Fund houses that adapt and provide simple and easy to use platform along with personalised investment advice will stand to benefit from the growing investor base.”

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