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MOFS succeeding in making clients self-sufficient and mobile oriented

The digital strategy at Motilal Oswal Financial Services focuses on giving clients the best experience through state-of-the-art products and platforms and ensuring right information at the right time, says a report in Banking Frontiers.

The company’ mobile turnover has grown by 70% over FY17-18. Digital initiatives are well received by clients. The fact that 52% of clients acquired in FY19 trade online is a testimony to its efforts. “Our focus in making trading clients self-sufficient and mobile oriented has also paid off, and we have achieved 80% growth in terms of mobile turnover in the Options segment alone,” says Arun Chaudhry, head, Online Business & Product Development, Broking & Distribution at the company.

Chaudhry says the company is now in a position to launch products at regular intervals which are completely automated and run on AI/algo. “The motive here is to achieve scale and provide individual advice to every client. Using technology, we are able to reach every nook and corner of the country; increasing client satisfaction in this process,” he adds.

ACE is one-of-a-kind product of the company, which enables any client with investible surplus of Rs100,000 to invest directly in equities. It generates a real time portfolio for every individual client with end to end automated execution (post client approval) and monitoring.

There is another side to the company’s digital strategy – enabling its advisory and sales teams with tools to ensure that right products are pitched to the customers based on their respective goals and risk profiles. Suggest ME empowers sales acquisition teams by generating actionable advice in real time for any kind of investment scenario such as benchmark return comparison, cross asset allocation, product-based investment, etc. This tool basically simulates client meeting and enables relationship managers to increase chances of first meeting conversion.

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