Think BIG : Business Perspectives

YOUR mobile app to help you compete against savings accounts

Himanshu Vyapak, Deputy CEO, Reliance MF

Friends,

Its our 20th anniversary, and the best way we thought of marking this occasion is to do what we have done so often in the past 20 years - come up with an industry first, path breaking BIG business building initiative!

I am delighted to bring to you another BIG idea from Reliance MF. Simply Save - that's the name of a powerful new mobile app - YOUR mobile app, with which you can ensure that from now on, no investor's money will remain idle even for a single day! And, you can help your clients achieve this through the most convenient method possible - just a single click of a button! That's right - Button dabao, paise bachao!

What do I mean when I say YOUR mobile app? Simply Save is a co-branded mobile app, where your (the distributor's) name appears prominently every time your client uses the app. And, the app supports only distributor led transactions. An ARN is a mandatory field to input during the one time set-up. It is truly YOUR app!

Friends, this is your best opportunity to take on savings accounts. This is your best opportunity to make your clients money work harder without you working harder for it!

Sounds interesting? Let's then dive into the details.

What does"Simply Save" mean?

SIMPLE process to SAVE

Simply Save is a first of its kind Distributor Cobranded Mobile Application based facility for their customers to start saving instantly with one click.

What is the objective of SIMPLE SAVE cobranded APP?

The primary objective of Simply Save APP is to empower our partners compete with saving bank accounts. Currently, combined share of our IFA partners in debt assets are minimal as compared to other asset classes. With the combined strength of technology, convenience and simplicity of process, customers can make better utilization of their idle funds leading to high mobilization of debt assets by IFAs.

Secondly, to facilitate our partner to co-own a mobile app for their business enhancement. Whenever the customer use the Simply Save APP, partner name is pre-populated prominently across the app.

Why Simply Save?

Saving is the first step towards the journey of wealth creation. The more you save, the more you can invest in near future and start the journey of wealth creation. And while the funds are in savings mode, Liquid fund perhaps has unique advantage as compared to savings account and other instruments. With Simply Save, customers get the convenience of transferring the money from their Bank account to Reliance Mutual Fund Liquid Fund (Cash Plan) Account with a click of a button. With equal convenience, customers can simply withdraw by transferring funds back to Bank Account and there by taking advantage of relatively high return on their surplus/ idle funds.

How Simply Save will help our partners in growing their Business?

Partners are challenged to mobilize small to moderate investments in liquid funds from their customers due to several reasons:

1. Low incentive in liquid funds distribution

2. Involved higher transaction frequency, due to dynamic liquidity requirement of customers

3. Involvement of paper-paper work for every transaction

4. Expenses related to logistics.

5. Most importantly, personal time of partners

With Simply Save Mobile App, partners can control client savings efficiently:

1. All Saving transactions are performed by customers with single click

2. No paper work involved

3. NIL Expenses on transaction to partners

4. Partner save their precious time on more business yielding activities

5. Customers are not required to enter ARN details, as it is picked and freezed with last transacted details

6. As this is a partner app, there are no Direct Option made available for customers

Apart from the above,

• Simply Save mobile app is co-branded, i.e Partners Name is prominently displayed on mobile app

• It is a free app for partners and customers

Who can use Simply Save mobile App?

Simply Save mobile App can be used by all existing customers of Reliance Mutual Fund serviced by financial advisors.

How can customer get started on Simply Save?

1. Partner needs to introduce their Simply Save mobile app to customers by downloading from Google Play store. The partners can forward the Simply Save application link to their customers with the help of SMS, Whats app or email as well.(IoS version will be available in 10 day's time, followed by windows app store). The partners can use "Campaign" section of Business easy portal to forward "Simply Save" mobile application link to the customers using SMS and E-mail facility made available without any cost to our partners.

2. Customers can download the "Simply Save" mobile app by downloading the same from the Android Play Store (or by clicking on the link forwarded by you) and login using the PAN number or Reliance Mutual Fund online username and password.

3. One time configuration is required to select the Folio, amount and payment method.

4. The ARN code will be pre-filled as per the last transaction ARN details.

5. Now, whenever you press the Simply Save button, the chosen prefixed amount will be transferred to Reliance Mutual Fund Account (Reliance Liquid Fund - Cash Plan - Growth Plan - Growth Option).

6. The customer will be intimated via SMS or Email.

What are the payment options available?

Three payment options will be available for customers:

1. One Time Bank Mandate (OTBM) is the best preferred payment option. For which distributors can facilitate the registration in customers folio under their ARN details

2. Debit Card: Customer can save their Debit Card on APP for convenience of quick transfer

3. Net Banking: Net Banking Customers will also be able to use this option to transfer funds instantly.

Reliance MF recommends use of One Time Bank Mandate for best experience of Simply Save App.

How does the One-Time-Mandate work? Is there a pre-defined amount that can be invested/redeemed or is there flexibility?

Withdrawal or Redemption is not linked to OTBM. All customer withdrawals are processed in theie primary bank account registered in their account/ folio.

How will be ARN details hardcoded for partners customers?

Based on the folio number selected by the Customer, the last transacted broker code will be automatically populated while registration. Basis this customer will be able to transact in regular option only.

Can distributors register their Customers for Simply Save registration through PHYSICAL form?

Yes, Distributors can use Simply Save Registration form to register their Customers for simply save facility. On successful registration, customer will get alert about confirmation and link to download the Simply Save Mobile App.Partners can get the "Simply Save" registration forms from our branches or can download the same from "Simply Save" promotional e-mailers or from 'Business Easy" website.

The form is divided in 3 parts:-

1. Simply Save Registration section requires: Customer details like folio no., customer name, amount to be saved, ARN& EUIN details and payment options.

2. The benefit of this form is that the once the "Simply Save" profile for the Customer is created all the details are pre-filled on the application which will save the customers to enter details and hence the Customers can directly start Saving by click of a button. Also the Partners time will be saved to facilitate this step for every customer. The time to process the form is 5 days for simply save registration only.

3. One Time Bank Mandate -For seamless experience, OTBM option is made available for Simply Save registration form. Using OTBM, with a single click the Simply Save transaction is completed. That time for OTBM is standard 21 days. If customer has already registered OTBM, customer may not fill this again

4. Reliance Any Time Money Card: This is an optional facility for customers, you can enjoy unique benefits of Reliance ATM card for instant withdrawal from their Simply Save account.

How can distributors promote the Simply Save usage amongst their customers?

1. Simply Save templates are readily available in form of Email and SMS in their respective Business Easy accounts.

2. Distributors can send the email and SMS campaigns on Simply Save to their customers which further has the link to download the APP.

3. Separate SMS are already triggered to all distributors which they can further send to customers.

Special facility for distributors to get Pre-filled Simply Save registration forms for all their customers.

Distributors can avail the facility of getting the soft copies/hard copies of the Pre-filled OTBM forms for all their customers. Distributors can reach out to your Relationship Manager or our nearest branch to create pre-filled OTBM soft/ Hard copies for all your Customers. Option of Pre-filled form is also available in the Simply Save APP for customers for their folio numbers.

Benefit of Reliance Any Time Money Card

Customers can also avail benefits of Reliance Any Time Money Card linked to their Account where they hold Investment in Reliance Liquid Fund - Cash Plan. Click http://tinyurl.com/Rel-ATM-Card to know more on Reliance Any Time Money Card.

Does the Simply Save APP offers any additional features?

Below additional features are included for managing your Simply Save Account efficiently:-

1. Simply Save Balance: Know the Simply Save balance.

2. Simply Withdraw: Anytime withdrawal.

3. Modify settings: Change to amount or the payment mode, select another folio.

4. Instant Transaction alerts: Alerts for the successful transactions.

What is the applicable NAV for initiated transaction authorized by customers?

NAV will be computed as per normal and standard purchases transaction purchases

In what way is Simply Save better than SMS invest facilities that are already available?

- Mobile APP: Simply Save is an Mobile APP based facility for customers

- Configured: Customer can opt for one time configure option, which sets as favorite Folio, Amount, Payment option, Broker Details. Apart from Broker details, other details can be modified by customer any time on the app. SMS. every time user has to send SMS in the specific format only with changing scheme codes.

- More Secured: Customer is validated with Account details via OTP or username and password. SMS option has limited security as customer is identified by Mobile number. Which may get changed in future for customer.

- Multi Device: Customer can configure Simply Save in multiple device. SMS only one reg mobile number/device can be operated by user

- Multiple Folios can be operated using Simply Save APP. In SMS, limits use to one folio

- Low Operator Dependency: Simply Save uses lean internet on device (wifi or mobile data). SMS is vulnerable to delivery, multiple delivery in many cases.

- Instant Acknowledgement: Simply Save you get instant confirmation on device. SMS there are potential delays due to multiple transmissions.

Content is created by Wealth Forum and must not be construed as an opinion by Reliance Mutual Fund.

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