Challenge
Simplus, a futuristic Eco System for the mutual funds investments. This system helps the investors to self serve, from each and every step including from onboarding, KYC, Risk Profiling, Goal Management, Portfolio Suggestion to the investor , Analysis, SIP, STP, Switch In/out , e-mandate and other payment options, there by helping Simplus scale its operations. The client wanted to build an ecosystem, where the entire system had to be automated as much as possible, so that his customers would do mutual fund transactions without much of his or his employees intervention. The challenging part was to design a sleek interface for his requirement, and to fetch required data from various vendors like BSE to be displayed in the app with several calculations and formulas.
Solution
We are absolutely obsessed of all things digital! Since we have a large number of micro-services at our disposal, we will be able to provide quick solutions to our customers. We are innovators in our field, and we say that with pride and confidence in our team! Solution and steps taken Our team brainstormed with the client on multiple sessions and came up with an amazing solution for the platform, and below are few modules Customer Onboarding User onboarding entails a variety of tasks, including assessing potential customers, ensuring credit process adherence, ensuring legal agreements, creating a new account, and making the customer in accordance with the bank's market strategy and government regulations. Risk Profiling Professional advisers use risk profiling to help assess the best degree of investment risk for their customers. Risk profiling is used to determine a client's required return (and therefore risk) in order to achieve their investment goals, as well as their risk potential and risk tolerance. Analytics We built portfolio analysis which is one of the facets of wealth management that allows market investors to assess and measure a portfolio's output. The method of electronically checking a customer's credentials is known as paperless KYC. It's a method of digitally verifying information. Goal Management Rather than relying on achieving the best possible portfolio yield or beating the index, the client tests his customers' success against basic life goals, such as investing toward children's college or creating a retirement nest-egg. e-Mandate Integration We integrated e-Mandate payment software. It provides the infrastructure for companies in India to receive recurring payments.
Results
When the client came to us with an idea, It was challenging for us to guide him on design and technology part becasue we had to brainstorm several times with the client and come up with a solution. We built a user friendly interface for the mobile app and connected several API's with the app and the backend database This is an ongoing project and we are adding new modules and functionalities to the platform, which help's our client to carry on his business in a smooth and efficient way!
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