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The Fintech Startup MySipOnline focuses on following a diversified investment perspective with 100% transparent mechanism

Fintech is the new buzzword, which is, quite hearable everywhere these days. It is not only a term to mouth combination but is also practiced in reality. So, what exactly does it mean? Fintech is a term used to define the online investment process that has made the clients around the world be united under a single process and share equal benefits as well. Thus, a Fintech Startup is the beginning of a new era in the Financial world.

What gave way to commencement of Fintech Startups?

Various unethical practices, tedious formalities and documentation and dishonest consultants who have betrayed the customers n number of times in the offline method have defamed the mutual fund sector.

There are a number of loop holes in the physical method of investing in mutual fund scheme which include opaqueness in the transactions, lack of proper guidance to the customers, greedy practices followed by the investment consultants, etc. Various research programs run by different financial analysts depict the need of inventing a mechanism that would provide the customers with the required rights and freedom for investing in mutual funds.

In addition to this the customers having an intention to make portfolio by investing in the best schemes of varying AMCs then through the offline mode they would have to maintain accounts for each of their investments. It means that if a person intends to invest in five different schemes then there is a need to maintain five accounts individually.

Looking at these issues many of the startups have been entering the industry to give the clients a hassle-free investment environment where they can implement what they think. One such Fitnech Startup is MySipOnline.

5What is MySipOnline?

MySipOnline is an AMFI registered online Mutual Fund distribution house, which allows the customers to invest their hard-earned money in a quick, transparent and secured manner.

This online portal facilitates a 100% customized portfolio to the clients enabling them to choose and invest according to their willingness. With the help of this online platform the clients can savor the freedom of investing in schemes, which they prefer, and not what the consultants find suitable according to their incentive structure.

3MySipOnline was co-founded by the duo Virendra Ranawat and Lokendra Ranawat with a small team of 5 people in December 2015.Making consistent progress with each passing day the startup is able to bag many awards including the TATA Mutual Fund for qualifying the Chairman’s Club and Birla Sun Life Mutual Fund award for doing the highest number of SIPs PAN India.

The company follows a slow but steady growth process and lays emphasis on customer awareness rather than earning profits. For the same reason the portal is a no-cost or free service provider. It means unlike other investment portals MySipOnline does not charge any fess from its customers and a team of financial experts are always keen to assist them in any of them as and when it comes to risk profiling and financial decision making.

How MySipOnline makes online investment even more easy?

The introduction of online mutual funds has surely enhanced the quality of service and the industry is able gradually win back the lost trust of the customers.

MySipOnline has made the process even more subtle. As the clients can freely register for their mutual fund account. Then they can first compare various funds of the category in which they intend to invest. After pinpointing the scheme they can move on to the next level that is of selecting the method through which the clients want to invest (Lump sum or SIP). Through this entire process thier team of experts is ready to guide and support the customers as and when they require.

Being a service charge free investment portal the customers are not required to pay a single penny to the site rather they have to directly pay the amount to the AMC through a network secured by SSL. This is the most striking feature as the investor need not fear the loss or tampering of their credentials in any way.

4The team of experts consist of professionals who have acquired enough skills required to operate in the market and at the same time manage the funds for those who are entirely new to the sector.

The site has introduced a new feature of eKYC which has enabled the customers to file their KYC formalities through the online method and get it cleared as well. They are not required to have a physical verification. It saves the time and aggravates the process of investment as KYC has to be completed prior to deploying funds in any of the scheme.

Summary

Being a newbie in the Fintech sector, MySipOnline has been able to entice customers towards investing in mutual funds easily. Having a goal of customer satisfaction in every situation this site provides the facility of family account and SSL protection so that the investor’s information is secured. The AUM has risen to INR. 25 Cr. with 2000+ clients PAN India. The site also has investment facility for NRI clients as well.

Team Bizztor

Bizztor is a Media Platform focused on Educating, Connecting and promoting startups.
Our vision is to help early-stage startups and be a part of their growth. we believe that startups have the potentials to create solutions for community problems and we see ourself as helping hand to such entrepreneurs.

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