Targeting low income households, it recommends personalized goal-based investment solutions based on the risk profile and real-life goals of the customer. Unlike other mutual funds distribution platforms, FINVESTA has an embedded intelligent advisory platform, along with profiling engine which packages goal-based solutions by leveraging the technical & fundamental analysis of 3000 growth mutual funds. The completely paperless enrolment process by the application for registering mutual funds makes it very convenient for the masses to invest in a complex product with just a few clicks.
Commenting on launch, Seema Prem, CEO of FIA Technological Services Ltd. (FIA Global) said, “FIA Global since its inception is committed to provide end to end digital solutions to unbanked & underbanked segment of the population. With the launch of FINVESTA, we endeavor to provide easy and accessible platform to people who are not able to invest in sophisticated mutual fund products. Currently, underbanked or FI segment are only saving money in low interest earning products, with this application we believe a person can even generate an average return of 15% on his/her investment for longer term goals leveraging high performing funds.”
We also endeavour to make mutual funds more accessible to every Indian and are targeting 1 mn households by 2020” She added.
As of now, FIA Global through its extensive distribution network in India and Nepal, catering to more than 20 million customers, will be extending the services to underbanked and FI Segment. In future they are also looking to tie up with various industries and segments.
With a digital payment network spanning 622 districts in the country, FIA Tech provides banking and financial services at the door step of customers in underserved low-income households and minorities in India and Nepal. Profitable since inception, company has seen increased adoption of financial services across its range of products – basic banking services, mutual funds advisory and loan sourcing.