Mr. Yagnesh Desai has total 16 years of sales experience out of which 9 years is with NJ. He is a CFP certified, tech geek who loves endurance sports, and is a cycling enthusiast and active marathoner, having run over 6 marathons. At NJ, Yagnesh is looking at NJ E-Wealth initiatives and is working towards digitising the Partner's business.
Stephen Hawking once remarked, “intelligence is the ability to adapt to change”. In ever changing competitive scenario and client needs, it is very much imperative to adopt to the changes happening around us and use those changes to our advantage.
We are already living in digital era where everything is now available on finger tips. Ecommerce is revolutionising how we do our business. Even banking systems are evolving rapidly to mobile banking. India is very fast to adapt to these changes and according to a recent survey, India stands at 5th position way ahead of other developed countries.
Today 2 million smart phones are sold worldwide daily and today there are over 1.5 billion active mobiles users. Our client too are now tech savvy and use smart phone very effectively. I am sure by now, all our client would have used ecommerce / mobile banking very effectively. Going forward, as predicted by many experts, when every thing will be available on finger tips, it is most important for us to have our own space on our client's mobile for doing investments. And if we are not there, there are many other competitors who are already working for being there. “The option of not offering, will soon not be an option any more.”
Keeping mind these changes around us, it is very very important that we work pro-actively in shifting our business to the digital front. As the first step, we can start by creating our digital identity with a website and with active social media presence on Face Book page or Twitter. Start sharing educative emails to client with current news and updates on these platforms which are readily available to us.
A important decision to make is to offer your services digitally and that is only possible with the 'NJ E-Wealth Account'. There is little doubt that today, E-Wealth is revolutionising how Partners are doing their business and many would enthusiastically vouch that E-Wealth is the best way to do investment transactions today. The E-Wealth offering is probably, unmatched by any other platform, including those offered by big private banks.
Recently we again took an important step ahead by introducing another revolutionary solution where in just few steps , a mutual fund transaction could be done in less than 100 seconds. We call it as 'Partner Initiated MF Transaction ' or PIT for short.
The key features of PIT are ...
- User friendly interface for Partner which takes less than a minute to initiate any type of transaction for a E-Wealth Client.
- Dashboard view for selected Clients enables to easily initiate any type of transaction in existing portfolio.
- Option to select payment mode from which the E-Wealth Client will initiate the payment for Purchase transactions.
- Option to view & delete Un-authorized transactions to Partners.
- Option of SMS & Email added for transaction authorisation apart from Online, CNT & offline available to Clients.
- Instant communication on email to Partner on transaction authorization by Client.
Benefits :-
- Cost effective transactions possible.
- It will also possible to execute numerous (virtually unlimited???) transaction in a day which was not at all possible today single handedly.
- Transaction can be from anywhere any time.
- Helps Partners to serve their Clients globally, without geographical boundaries, who earlier was just doing a business at local level.
- Easy, time-saving, accurate transaction management for Clients who can experience great value with you.
Be strongly believe that once the Partner starts offering such, easy and user friendly services to their Client, it will be difficult for Clients to go else where.
The initiative has received tremendous response since launch. Since the day of launch, a total of 5,000+ transactions were initiated and out of these over 70% (>3500) were authorized of which nearly 88% was authorised through SMS & Email. It is really encouraging for us to see that new a mode of transaction /authorisation is accepted so very well.
We believe this is just the beginning. We will make sure that we bring many such innovations for YOU which will transform your advisory practice and make it very effective. By whole-heartedly accepting and using to these technology powered innovations, we are sure that you will continue to achieve greater heights in the business.
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