New Delhi: Motilal Oswal Asset Management Company (AMC) on Monday launched its WhatsApp transaction platform for new as well as existing investors.
It is the first of its kind initiative by any fund house in India to do mutual fund transactions through the popular cross-platform messaging app, the company said.
This is a standalone feature wherein the customers can use their WhatsApp window to complete the mutual fund purchase. The investor through his/her registered number can initiate a transaction in Motilal Oswal MF funds just by typing a salutation. Further interaction makes it very easy for the customer to buy a fund of his/her choice from MOAMC’s bouquet of funds.
The customer can complete the entire process in less than two minutes and gets an instant transaction confirmation through the medium. The investor can make the investments either in a lump sum or through systematic investment plans (SIP).
“Offering transactions on WhatsApp is our effort to try and be present wherever our investors might find it easier and convenient to be able to deal with us," said Aashish Somaiyaa, MD and CEO at Motilal Oswal AMC.
The fund house further plans to introduce more features that will help customers access their account statements along with addressing their service requirements needs.
The feature is not a part of WhatsApp Pay and is different from using it as a payment channel.
Here are the steps by which one can invest via WhatsApp:
- Add Motilal Oswal AMC number (+91 9372205812) in his/her contact list
- Get on to WhatsApp, and then type ‘Hi’ on the above number
- From there on the journey is built in such a way that the customer continues with subsequent instructions on the mode of investment, fund, amount etc after sharing the PAN details
- Post this, the customer is sent a payment link where the customer goes to his bank account & authorises payment for the transaction.