Moneycontrol has amplified its proposition by introducing a new app on Mutual Funds called – ‘Moneycontrol Transact’. The innovative app enables the users to understand and undertake all the MF activities comprising making investments, viewing recommendations and analyzing markets/investments on-the-go. Moneycontrol Transact comes with a personalized feature which recommends suitable mutual funds to users based on the multiple parameters.
Through various user selected specifications, the app examines how much the user wants to invest, what is the investment horizon, current financial conditions and responsibilities of the user. The custom recommendations suggest inputs based on investor’s age and their risk-taking abilities.
Personalized recommendations on the app are powered by CRISIL Research, known for their expertise in MF sphere. Moneycontrol Transact offers a curated list of funds from 39 fund houses and will be available for users to select their preferred asset class, time horizon and their investment focus. In order to get updates on-the-go, users can easily navigate on top performing funds across all categories and utilize all the features for free.
Moneycontrol Transact makes it easy for them to register, invest, submit and complete all the necessary procedures conveniently without getting into any paperwork hassle. A detailed portfolio analysis can be accessed 24×7 by the users across beginners and experts, including their investment records, attained profits/ losses and exhaustive study about their mutual fund activities to give them a collective view across different holdings.
At the launch, Gautam Shelar Business Head for moneycontrol, said, “Based on extensive user research and feedback we have received from our moneycontrol user community, we have launched the first iteration of the moneycontrol transact app. After the launch of our premium paid offering Moneycontrol Plus, our strategic alliance with CRISIL, an industry stalwart in this domain, we will further diversify our business from an ad driven model. We are looking to tap the cross section of millions of mutual fund investors in India, a large part of whom are already loyal moneycontrol users. We have been pioneers in providing best in class information to our users and now in order to execute the transactions/ activities seamlessly on Moneycontrol Transact, the information can be combined with recommendations to deliver superior perspectives and insights to our users.”
On the new launch, Avinash Mudaliar, Chief product officer of Network18 says, “We are extending the Moneycontrol brand to a transaction platform for a better service to our existing users, who have trusted us for almost 2 decades for all their financial needs and information before investing. Mutual fund awareness is growing and investments by retail investors have seen tremendous growth of 1.6 Lakh Crore in past 12 months. We have developed a product which can handhold new investors of mutual funds while also satiate the requirements of more seasoned investors who want to get insights into their investments. New users will find a product that is simple and elegant to use and will also be able to invest in mutual funds quickly yet confidently, backed by moneycontrol and CRISIL’s recommendations. At the same time, advanced users will be engaged by the consolidated as well as granular views of their investments. We are looking to continuously evolve and add more value driven features for our users.”
The app is currently available for users on both Android and iOS platforms.