MOTILAL OSWAL FINANCIAL SERVICES ANNOUNCES THE LAUNCH OF DIGI PARTNER
Bengaluru, 16 January 2020: MotilalOswal Financial Services has announced the launch of their new asset-light business partner model, Digi-Partner. Capitalizing on the trend of digitization, given more than 70% of transactions of purchase happen digitally; this was an apt move for a financial services leader like MOFSL. This model requires little/no investment to start a financial intermediation business and will certainly revolutionize the sector.
As the name suggests, Digi-Partner is a unique partnership model where your complete business right from acquiring clients, account opening, business operations, product suggestions, advisory product Investments and moderation is done digitally. While you focus on activating your relationships, the technology provides the backbone to help your business grow.
Speaking on this initiative Gaurav Manihar, Head – Business Alliances , MOFSL said, “It is a well-known fact that India has a young, educated population. It is also known that equity penetration in India is less than 4% ( vis-a-vis 60% in USA) and hence presents a large opportunity for financial intermediation. Our Digi Partner model helps young Indians who have a passion for investing and relationship management to turn entrepreneur by removing the barriers that prevent them from doing so.”
Some of the key advantages of this model are
· Minimal cost of customer acquisition in digital channels compared to traditional channels
· High reduction in the cost of transactions and servicing through digital channels compared to traditional channels
· Multifold increase in revenue generation through customers as compared to branch only model
Through this unique business model, MotilalOswal Financial Services wishes to reach out those who aspire to become entrepreneurs in the field of financial intermediation but cannot afford very high investment due to infrastructure costs. The capital market penetration in India is very low as compared to other developed countries. The more the affordable such business modules get, it will help in multiplying equity penetration in India.