Technology has never been a more dominant force in our lives than it is today. There would be no Facebook without cloud computing, and Google wouldn’t be such a know-it-all without big data analytics. And, what about the ‘Internet of Things’? We are talking about the Bluetooth connection in your car! Yes, we missed virtual reality, but you are getting the drift, right?
Technology is so deeply ingrained in our daily lives today that its impact on our behaviour and personality has become an important subject of study for top-notch researchers around the world. To this end, it’s only appropriate that technology and the equally resourceful world of finance have come together. Finance is an intimidating topic for many; Mutual Funds (MF) even more so – especially after the 2008 recession when even heavyweight investors lost the game.
However, Mutual Funds are again gaining popularity as the investment tool of choice. They promise lucrative returns, and now with the availability of data analytics and data crunching software, a fund manager can funnel your money to profitable sectors. This safeguards you, to a large extent, against any startling change in the economy.
Additional Reading: Top 10 Mutual Funds in India
See You Online!
With technology having permeated the financial world, you no more have to travel to the offices of fund managers or meet MF selling agents in coffee shops. Just switch on your Wi-Fi and scout and compare MF offerings online. You will save time and effort at the very onset of the application procedure. Once you find the MF of your choice, apply away! It’s as easy as ordering a pair of shoes on Amazon.
Save Paper, Save Trees!
With the wide implementation of e-KYC, you can fill your MF application form online, scan and upload your documents and pictures, and even post queries on the web. You can also sign the documents for validity purposes using e-sign facility. After this, either someone from the Asset Management Company will call or visit you to verify your details. Post this, the asset management company will mail you the relevant documents.
Voila! You’ve got a smart investment going, in the blink of an eye.
I Have My Eyes On You
Mutual Funds are long-term investment tools, and it’s good to check your returns from time to time. Just login to your MF account, and you’ll know the number of units you have invested in and the return on each unit. This will allow you to track and juggle your funds around, if need be. Right from the processing of your MF account, to details on fund management, customer service and distribution – every bit of information is available and is just a few clicks away.
Have You Got The Smarts?
When Satya Nadella took over Microsoft as its Chief Executive Officer, he pressed on the ‘mobile first’ strategy – a move that lent momentum to a somewhat plateauing Microsoft’s stock then. And, why not? We literally sleep with our mobile phones tucked under our pillows. We use them to get instant news and information. With your smartphone always in your pocket, you can receive regular updates on your MF account – payment reminders, fund value, etc.
Additional Reading: Types Of Mutual Funds
With technology in the grasp of your hand, literally; the air of mystery around Mutual Funds is gradually fading. It’s easy to learn how they work and what you can expect out of them. We at BankBazaar will leave no stone unturned when it comes to giving you the best investment offerings. You can soon look forward to getting Mutual Funds online on the BankBazaar website.