Videos, live sessions with experts to demystify products on social media have helped ABSL AMC to be in the top 5 brands among MF companies followed on social:
Aditya Birla Sun Life Asset Management Company (ABSL AMC), co-owned by Aditya Birla Capital and Sun Life (India) AMC Investments Inc, operates multiple alternate strategies including portfolio management services, real estate investments and alternative investment funds. ABSLAMC serves around 8.1 million investor folios with a pan India presence across 280 plus locations and a total AUM of over Rs2.9 trillion for the quarter ending June 30, 2022.
A. Balasubramanian, MD & CEO, Aditya Birla Sun Life AMC, with 3 decades of rich experience, has been associated with the organization since 1994. He oversees over Rs3.1 trillion in AUM at the AMC. He has completed advanced management programs from IIM, Bangalore, and Harvard Business School.
Journey On Investor Portal, App
ABSL AMC has added different ways of completing the KYC via VKYC & Aadhar OTP KYC for the investors on its website. This provides the user to complete his/her KYC via multiple methods. Moreover, Aadhar OTP KYC, allows the user to get the KYC verified instantly with the help of an OTP. This year, to make the journey for the investor and distributors seamless, ABSL AMC has reworked on its investor website and distributor portal.
Balasubramanian points out: “Across our investor portal and app, the experience and the journey are exactly the same, allowing customers to seamlessly move across the devices. Many servicing features like addition of nominee, change or addition of contact details, address, etc, are now available completely digitally. Our customers and distributors can get the benefit of these features from the comfort of their homes.”
Cloud: Computing, Native Tools
Technology is ever evolving and so is ABSL AMC. It uses the top-notch services available in the market. ABSL AMC is associated with some of the best payment aggregators of the market on its digital assets to provide the flawless investment journey. Balasubramanian informs: “We use cloud computing with multi cloud strategy and cloud native tools to host the solutions built under the tech stack of Microsoft, open-source platform, and tools. Our customers can continue the dropped journey from where they left as we reach out to the customers on real time basis with drop cart communications.”
Pillars Of Digital Biz, API
As digital assets of ABSL AMC lay on its robust technology, the company has approximately 0.4 million customers who uses its assets on regular basis. The customer usage number increases exponentially with a rate of 1.5 times. ABSL AMC’s digital business influx is divided between fintech partners, mutual fund distributors and direct customers. Balasubramanian indicates: “These 3 legs are also the pillars of our digital business. With due course of time, we have seen a steady growth of 1.5x in our numbers and business volume. Every business flares only with enablers like the API suite that we provide to our fintech partners and other distributors for KYC, purchase transactions and instant redemptions.”
ABSL AMC also supports its partners (both business & investors) with proper investor education videos, blogs, detailed documents and many more. None the less, ABSL AMC’s digital assets also provide a proper self-help section with a real-time call back facility.
In-House IT Team, Vendors
Today the world is dominated by technology and keeping that in mind ABSL AMC has developed a well-versed digital team who works to the finesse, who works relentlessly to bring out new innovations. Further the company does not just stop in having a process to hire people, but it also aims to keep them up to the mark with various training programs. The company’s technology vendors are spread across pan India, however most of the work is done in-house.
Balasubramanian describes the attributes of the IT team: “We have a massive in-house team of 75 employees. They have worked tirelessly to bring better and seamless journey for our customer. While choosing its external vendors, ABSL AMC scrutinizes them based on their technical skill and expertise in implementing the solution ranges from larger IT and consulting forms to a boutique partner, who delivers solution.”
Analytics is the backbone of success in today’s times and accordingly ABSL AMC has incorporated a long line of system to provide it assistance. It helps in gauging the traffic of websites and applications, cross device tracking, auto-events based on website and application configurations and many more. Customer is the king, and ABSL AMC has treats them with the utmost care. ABSL AMC’s website has been integrated with CRM to provide a quick and immaculate solutions. Balasubramanian elaborates: “On our digital assets, we offer next-best- conversations, which means based on the analysed data and behavioural traits, we offer the next best product offerings which could be apt for the customers, and we have seen good conversions out of these offerings. To provide a real-time assistance we have integrated our CRM with the dialler system for a faster resolution.”
Dynamic Presence On SM
ABSL AMC as a brand is extremely dynamic on digital social platforms like Facebook, Twitter, Instagram, LinkedIn, and YouTube. Few of our principal promotions include product communication, investor education, moment marketing and digital assets promotion. Further, its followers and engagement across social media (SM) have been increasing rapidly. Balasubramanian states: “Videos, live sessions with experts to demystify products on social media have helped us to be in the top 5 brands among MF companies followed on social. Our followers are increasing at the rate of approximately 200 on Twitter, 1200 on LinkedIn, 300 on Facebook and 250 on Instagram every month. Very proud to state that we rank first on LinkedIn for organic engagement.”
Plans For IT, Digital
Business and IT thinks alike to stay the number one AMC. ABSL AMC does not stop at anything, and the same applies to its technology too. In the current FY, the company has developed a plethora of technologies which are available on its digital assets. Balasubramanian reveals: “To name a few would be Turbo STP, multiple ways to do digital e-KYC with folio creation, multilingual chatbot on our website, Pro-Investment and many more. We plan to bring new innovations like UPI Auto Pay, NRI KYC, Corporate KYC, Sampoorna SIP, CKYC data fetch using Cersai APIs for simple KYC, etc.”