FinnSys Software | ARM Fintech Consultants Pvt Ltd - Blog #fintech

Reels, Newsletter & More : Register for 1 month Free Trial

Sun, 31 Mar 2024 22:14:16 +0530

No Question asked - Just Register for our Free Trial !

Simply fill-in the Trial Registration form - our creative Manager will call you back and start your set-up !

Chat On Whatsapp with our Sales Team

Turbo Charge your MFD Business

Sat, 18 Nov 2023 20:27:52 +0530

Learn all about Finnsys 360 offerings - India's best MF Distributors Software

Chat on WHatsapp

How to complete AMFi DDQ process ?

Thu, 29 Jun 2023 05:46:32 +0530

Smart Tips to Grow your MF AUM

Thu, 29 Jun 2023 04:52:58 +0530

There are several ways to grow your MF AUM; you can follow few key tricks to grow your AUM faster

Lead Generation & Seminars

To grow your AUM you must be continuously doing the exercise of Lead generation by way of Reference , Seminars, Campaigns etc . A survey says that a MFD business grows mostly by way of reference and Educative Seminars or sessions. Hence you should have a proper process to conduct your referral collections and Client Seminars

Satisfied customers willing to serve as references for your new prospects often make the difference between winning and losing the sale. Getting and keeping those references, however, is a challenging and time-consuming job. While critical to the success of sales, this responsibility often falls into the lap of marketing and product management professionals who may not be as close to the individual customers as their sales representatives.

Set proper expectations with potential references at the outset—and then meet them. Let customers know how you intend to use the references. For example, will you use the reference in public relations activities with the media? Do you intend to use the customer’s name and quotes on the website and in collateral materials? Or will the reference be asked to speak directly with future prospects?Find out whether your customer’s company has tight restrictions on public testimonials. As a general rule, you will have more luck with customer references if the customer contact doesn’t have to go through elaborate internal approvals on his or her end. Often, getting approval to connect a customer with a peer is acceptable, and ensuring you don’t overstep those preset boundaries can establish a successful, long-term relationship.Setting expectations also applies to the situations in which you place your customers. Don’t ask them to speak on a topic with which they aren’t familiar. And always try to match the job level and subject expertise of the person with whom they’ll be speaking. Putting customers in situations that aren’t well aligned with their expectations can quickly lead to frustration and minimize the business benefits you hope to achieve

Learn their business for the most relevant, up-to-date references. The best way to match the right reference for a prospect or for marketing purposes is to learn how your customers have implemented your product or are using your service. How happy are they? Have they bought subsequent products from you? Has your contact changed positions or left the company? There’s nothing worse than serving up a customer reference who’s just had a hiccup with your product. Have an efficient way to update information in a centralized place, and always ask the sales rep for last-minute updates just before using that customer as a reference.=It’s also important to keep it personal. With numerous customers and a lot of activities happening at once, it can be hard to keep track of it all—but most of the time, a customer’s willingness to be a reference is ultimately based on a relationship either with you or with other individuals in your organization. Keeping track of these relationships can go a long way toward creating success.One often-overlooked angle is maintaining some visibility into customers who may be willing to serve as a reference, but for whatever reason, have not recently participated. You can track underused customers with some of the same methods previously mentioned. Find ways to reach out to these customers and either get them involved or let them know that they are still top of mind.
Learn their business for the most relevant, up-to-date references. The best way to match the right reference for a prospect or for marketing purposes is to learn how your customers have implemented your product or are using your service. How happy are they? Have they bought subsequent products from you? Has your contact changed positions or left the company? There’s nothing worse than serving up a customer reference who’s just had a hiccup with your product. Have an efficient way to update information in a centralized place, and always ask the sales rep for last-minute updates just before using that customer as a reference.=It’s also important to keep it personal. With numerous customers and a lot of activities happening at once, it can be hard to keep track of it all—but most of the time, a customer’s willingness to be a reference is ultimately based on a relationship either with you or with other individuals in your organization. Keeping track of these relationships can go a long way toward creating success.One often-overlooked angle is maintaining some visibility into customers who may be willing to serve as a reference, but for whatever reason, have not recently participated. You can track underused customers with some of the same methods previously mentioned. Find ways to reach out to these customers and either get them involved or let them know that they are still top of mind.
Let customers know their references are appreciated. Just as you would thank a friend who gave you a gift, it is important to acknowledge the value your customer has given to you. Send handwritten thank-you notes. Find out what is important to that client and start there. It might be as simple as getting connected with a product manager to give feedback. Get creative. Everyone likes to feel appreciated, and proper etiquette and timely follow up just might improve your customer satisfaction ratings, too.

The most difficult part of a SEMINAR/ SESSION is the guest invitation. You need to plan the invitation as your first priority . Here are a few tips to reduce the risk of ‘no shows’, get the maximum number of clients to attend and deliver the best return on the time and money spent .

There are three distinct phases to holding a client seminar that advisers need to consider and each has a different focus:

Pre-event - how to get the maximum number of people to attend the event.
During event - ensure clients’ expectations are met.
Post-event - follow up client requests, leverage the event with those clients who could not attend or did not show on the day, capture results and learnings for future events.

Pre-event
Objective Be clear on what you want to achieve. If your objective is to generate new prospects or connect with existing, high value clients that’s great. But it’s not enough. You need to quantify what you want to achieve. You should also be realistic about what to aim for. If you only have 100 people to invite is it likely you will get 50% to attend? Is your invitation and guest speaker line up compelling enough to deliver this kind of outcome?
Your objective should look something like this:
By quantifying your objective you will then be able to measure how successful the event was. You also need to decide what is the minimum number of clients you need to attend to make the event viable.
Client list
The most cost efficient way to send invitations is email so ensure you can identify who you can email an invitation to and those clients that will need a hard copy invitation. For clients that you mail an invitation to, include a request form for them to update their contact details including their current email address.

Venue selection
Find a place that is central to where the majority of your clients live. Make sure there is plenty of parking and transport to it and it’s easy to find. If possible include a link to Google Maps in your confirmation email.

Invitation
A compelling invitation, well written and visually appealing works best. If you’re sending the invitation by email make sure it’s in the body of the email, not an attachment that clients have to click to open. By including the invitation in the email you can include an active email link for clients to click on to respond back to you. Give people a Yes/No option and set the subject line in the hyperlink so your staff know immediately when a response comes in if a client is coming or not. If you don’t give them a No option, people who can’t attend may not respond at all and you may have to follow them up anyway to find this out. Ensure you use the word ‘Invitation’ in the subject line and in the heading of the invitation in the email. If you’re concerned about low numbers, tell clients that their family and friends are welcome to attend.

RSVPs
Set the RSVP date for at least 2-3 weeks before the seminar date. This gives you time to ensure you have good visibility of how many clients have accepted, those who have not responded that you need to send a reminder to, and those who have declined.

Confirmation of attendance
Once you receive an RSVP from a client that they will be attending, send them an email confirming their attendance and remind them to put the event date and time in their dairy.

Follow Up non-respondents
Send a follow up reminder to clients who have not responded 3-4 days before the RSVP date in case they have lost the invitation or forgotten.

SMS Reminders
Reduce the chance of clients not showing up on the day by sending an SMS reminder 1 to 2 days prior to the event. This is a low cost option that gets noticed by clients and is a fantastic way to reduce the number of ‘no shows’. Include your phone number in the text so clients can let you know if they can’t attend on the day.
During Event
Presentations
These should be as engaging as possible with the information accessible to your audience, meaning the content is tailored to allow for the level of experience and knowledge of you audience. The best presentations are those where slides are not text heavy but use images and a few key words to talk to. Remember, PowerPoint was developed as an ‘aid memoir’; it is not a substitute for a word document.

Information Packs
Always include a copy of the presentations in your information pack printed out as Notes so people can write their comments and thoughts to refer back to. It’s a good idea to also include some factsheets about the topic you covered, your adviser profile, business contact details and other relevant information for clients to take home with them

Feedback/Follow Up Form
Always provide clients with a feed back form, either in their information packs or on the seats. The purpose of the forms is to gauge how much clients valued/enjoyed the seminar, quality of the speakers and venue and their suggestions for topics in future seminars. You can also use this form to invite clients to request a follow up appointment or call back or even recommend the name of a friend or relative you can contact who may be interested in the information.

Questions
Allowing time for questions at the end is a good way to get clients involved and to gauge their level of engagement with the topic. Sometimes it works if people can ask questions when they think of them rather than waiting until the end. If you do hold questions to the end, it can be a good idea to have someone prepared to ask a question to encourage others to do so

Post-event
This is often the most neglected stage of a seminar but in fact can be one of the most important. Here is what you should be doing:
Follow up Actions
The day after the seminar follow up any action items: set up appointments, phone follow ups that clients have asked for directly or via the feedback forms.
Send a Thank You or Follow Up Email
Within three days of the seminar send a thank you email/note to clients who attended. To clients who said they were going to attend but didn’t and clients who couldn’t attend, send a follow up email and attach a copy of the presentations and other information such as factsheets, invite them to contact you if they want any further information, or to make an appointment.
Evaluation
Within two or three weeks of the seminar being held, take the time to review the results. Talk to staff who attended and get their feedback on what worked and what could be improved, analyse the feedback forms from attendees, then check the outcomes against your original objective – did you achieve the results you were looking for? Review the costs to put the seminar on, work out what the cost per attendee is and what the cost per appointment is. It’s good practice to capture all the results and learnings in a document so that you can refer to it when you decide to run another seminar.
By following these tips you will ensure that clients and prospects have a great experience and you get the results you were looking for

Digital Marketing

Digital Marketing - content calendar

A content calendar is where you keep track of every piece of content you’re planning to create. Here's how to create one in Google Calendar :

There are several content calendar apps out there, but if you'd rather not deal with complicated software and templates, Google calendar is your best bet. It is simple, easy, and, best of all, completely free. We’ll show you how to use it to plan your content strategy in seven easy steps.

1. Create a New Calendar

The first thing you need to do is create a new calendar for your content. Open up Google Calendar and navigate to Other Calendars on the left side of the screen. Click on the Plus sign to the right of it and select Create new calendar. You will see a new screen with fields for your calendar's name, description, and time zone. Fill them out accordingly. If you publish on multiple channels, we suggest that you create calendars for each publishing channel and name them
accordingly. https://calendar.google.com/calendar/u/0/r?pli=1

2. Share Your Calendar With Your Team

Now that your calendar is ready, the next step is sharing it with your team. Return to the Settings and sharing page and scroll until you find the Share with specific people heading. Click Add people, then input your team member's email address or name.
When you share, you can also set the level of access. As a best practice, each content team member should have minimum permission to See all event details, while only a few persons should be able to make changes or invite others. That way, there are no unwanted changes to your calendar, and every team member is carried along.

3. Color Code Your Publishing Channels

Color coding your publishing channels makes it easier for you to organize and keep track of your calendar. If you’ve created separate calendars for each publishing channel, you can easily do this in Google calendar by assigning each calendar a color.

4. Decide Your Publishing Schedule

The key to becoming a successful content creator is consistency, and that's what this step is all about. Here you’ll decide what kind of content you’ll create, the frequency, and the publishing time. Simply click on the date and time you’d like to schedule the event and create a placeholder. It should look something like this:
Think of it like the skeleton of your content calendar. You don't have to think of content ideas right away. Instead, you can simply use placeholders to represent each piece. The point is to create a structured schedule that is both consistent and convenient for everyone on your team.
You can make this process a bit easier by adjusting your calendar view. The calendar view setting is located in the top right corner, next to the gear icon. If you click it, you can choose between several view options, including a daily, weekly, monthly, and yearly view. Tweak this setting to plan as broadly or granularly as you like.
You can contact us freely, if you need any support in terms of creating a Google Calendar for your Digital Marketing activity.

Create attractive Website on WIX or Zoho Sites

Fri, 23 Jun 2023 22:16:06 +0530

Websites. We’ve all heard of them, visit them and consume their content, but what are they exactly? How do they come into being? The short answer is that they are documents that are being read by web browsers and displayed on your screen, but the long answer is much more complex than that. That’s what we’re here to help answer. Read this special blog by Amanda Weiner from WIX

Special Blog by Amanda Weiner - WIX

While there are many paths you can take to create a website, a popular choice time and again is to utilize a website builder. Whether you are a beginner or a design professional looking to make a website, website builders like WIX offer solutions for your needs. Our complete guide will walk you through the essential steps you need in order to build a website. This article will also help you understand all of the moving parts that go into a website, no matter which route you take.

How to make a website in 7 steps

Choose the website type
Pick a website builder
Create webpages
Design your site ( You can hire Finnsys for the design : @ Rs 30000/- one time)
Choose a domain name
Select web hosting
Promote your website ( You can use Finnsys Digital Marketing tool @Rs 1000/- per month)

Before you Start : Choose the website type

The creation process of your website begins at the conception phase, where you are simply thinking about what kind of website you want. This thought should be driven by your goals for your site and who your target audience is. Do you want to Educate, Motivate or make it a transaction enabled E Commerce website ? Perhaps you want to share financial calculators or MF Research ? Whatever your ultimate goal is, it should be reflected in your choice of website. Only from that point can you truly understand what platform is the best suited for your needs, the specifics of what your website should contain and how long it takes to build your website.

If you have not yet decided on what kind of website best suits you, we suggest taking the time to learn more about the different types of websites available and to peruse these website ideas.You can call us freely at our contact details to get a free counselling on making a MF website. We recommend that you jot down some items that stand out to you as you go through these lists and then return to this guide to get you through the rest of the creation process.

To give you an idea of a few options, here are some of the most popular types of websites and how you can go about creating them:

Mf Research tools are used to sell Mf Schemes online. You can achieve this through the API of advisorkhoj or morningstar etc
Blogs are sites where you can consistently share information on a specific topic. Learn how to start a blog.
Online Portfolios Login takes the customer to your database and presents various reports.

“Just as us humans, every website has its own needs. Try to define what those are and what goals you’d like to achieve in order to create a successful website that is truly original.”

- Adi Huri, Product Marketing Lead for the Wix Brand

What is WIX editor ?

Best for: anyone looking to create their own site. Can be a beginner or experienced.

The Wix Editor, as it sounds, is a platform that you can use to create and edit your own sites. It employs innovative drag and drop technology which enables you to easily add or change elements on your site and has a plethora of built-in design options. The true benefit of the Editor is that it provides a number of different routes to help you create a professional website and gives you the flexibility to adjust your site as you see fit.

Learn the ins and outs of building a website with the Wix Editor with this online course. You can hire us( Finnsys) for first time designing of your WIX website for a starting price of Rs 30000/-

a. Templates

Best for: templates are truly for anyone and everyone looking to get online.

Website templates are a great choice for anyone looking to create their own site. Wix’s templates are made by professional designers, with over 900 options for your picking. You can be sure that whatever niche your website falls into, there will be a template waiting for you. We suggest exploring these website templates by category to find the one that best suits your needs or design preferences. You can also delve into these Wix websites for inspiration and to give you an idea of what a template looks like in action.

No matter which template you choose, the Wix Editor provides you with the freedom to add and remove site elements with ease so that you can adapt the look and feel of your site. Whenever you choose a template with Wix, you will automatically be taken into the Wix Editor which allows you to customize as you see fit.

b. Create a website from scratch

Best for: those who feel comfortable with design and don’t fear the white canvas.

For those looking to build a website from scratch, the Wix Editor is a great option. You can select a totally blank canvas, or a template that has minimal layout built-in without any additional design, leaving the rest up to you. You can even turn your website into an app. This gives you complete freedom to imagine your site in any way that you desire and add any elements that you wish.

Once you pick a blank template, you will be taken directly into the Wix Editor to drag and drop the components that you want. This enables you to play around with layout, colors, buttons, functionalities and much more.

c, Hire a professional like Finnsys

Best for: those looking for an extra professional look, without much time of their own.

A great route to take if you are looking for an outstanding website is to hire a professional. You can hire a web professional at the start of your journey to help you with website development, or you can bring someone in after you’ve started the building process to help with more specific tasks.

If you’re looking for someone to assist with the entirety of your website, we suggest starting with a web designer. Web designers create websites for a living and can ensure that your site has the look, feel and functionality you want. While hiring a designer will cost you more money than creating a site alone, they can help guarantee that your site gets a professional touch.

There are also other aspects that go into a great website which a freelancer can help you with. These might include designing a specific element on your site, assisting with site content creation and helping with your SEO.

Finnsys is a registered WIX partner available for creating your website on WIX. Note that Finnsys is Wix verified , ensuring our quality.

Call us free for more discussion about your website : See some of our templates which u can create on WIX

Get Started with your own Mobile App - Android & IOS

Fri, 23 Jun 2023 22:02:15 +0530

Creating App is high on the agenda for the fintech industry. Everyone’s thinking about how their business can make use of fintech: digital banking, personal finance, investment apps, blockchain etc... It’s a quickly growing space and companies that don’t embrace technology are going to get left behind. Are you ready to embrace fintech?

What does API stand for?

Creating a mobile app for MF distribution with a focus on portfolio reporting, fund selection, and ease of investments through secured APIs is a great initiative. To enhance customer engagement, here are some smart tricks you can consider while developing your app:

1. User-Friendly Interface: Design a clean and intuitive user interface that is easy to navigate. Make sure the app is visually appealing and provides a seamless user experience.

2. Personalized Notifications: Implement personalized alerts and notifications to keep users informed about important updates regarding their investments, such as NAV changes, dividend announcements, and portfolio rebalancing suggestions.

3. Portfolio Valuation and Performance Tracking: Offer comprehensive portfolio valuation tools and performance tracking features. Provide visual representations of investment growth, asset allocation, and historical returns to help users understand their portfolio's performance.

4. Goal-Based Investing: Incorporate goal-based investment features that allow users to set and track their financial goals. Provide recommendations on suitable funds based on their objectives and risk appetite.

5. Fund Research and Selection: Offer detailed information on mutual funds, including their historical performance, expense ratios, fund manager details, and investment strategies. Provide intuitive search and filtering options to help users find the right funds.

6. Investment Calculators: Include interactive calculators that help users estimate the potential returns, risk, and tax implications of their investments. This can assist them in making informed decisions.

7. Investment Reminders and SIP Tracking: Enable users to set investment reminders and track their systematic investment plans (SIPs) to ensure timely contributions and disciplined investing.

8. News and Market Updates: Integrate relevant financial news, market updates, and expert insights to keep users informed about the latest trends and developments in the mutual fund industry.

9. Secure and Seamless Transactions: Implement robust security measures and seamless integration with payment gateways to ensure safe and hassle-free investment transactions. Emphasize the security protocols in place to instill trust in users.

10. Customer Support and Feedback: Provide easy access to customer support channels within the app. Encourage users to provide feedback, suggestions, or report issues, and promptly address their queries or concerns.

Remember to comply with regulations and avoid presenting your app as a Registered Investment Advisor (RIA) or Direct Plan Advisor. Emphasize the value-added services your app provides, such as portfolio reviews, rebalancing suggestions, and portfolio valuations, rather than focusing on self-help processes that may involve fees or brokerage.

Some important 3rd Party APIs to be used in your MF App

Most of the MF distribution application need following APIs to make it useful and customer friendly :

NSE NMFII API : For enabling Online transaction in your application
BSE Star MF API : For enabling Online transaction in your application
MFU Utility API : For enabling Online transaction in your application
CAMS E KYC API : For creating Online KYC for new On boardings
Advisor Khoj/ Morning Star etc : For presenting scheme wide data and charts
PaySprint/ Bill Avenue etc : For enabling PAN card creation, Online payments and other Bill Payments
Policy Anchor/ Policy Bazaar etc : For presenting Insurance Quotes and comparison along with Online buying
Finnsys 360 API : For presenting complete customer data through RTA feed

How to get these APIs ?

We realised that around 500 features make up about 80% of all software . Our team of experts manage the entire process so you can be sure your software works exactly as you envision. Optimise internal workflows, simplify payment systems, and much more. Predictive fraud prevention Prevent damage to both your company and customers. State of the art algorithms detect and automatically block unwanted activity.

Comprehensive logs : When launching any fintech applications you need to store detailed user information. We make it easy to track user actions, device data, and geolocation.

Powerful data analytics : Our AI can dive into your user data to identify trends you can use to generate greater revenue. Our data visualisation tools make it easy to see exactly what users are doing.

Easy integration : All the services you expect are just a few clicks away. Our no-code solution lets you easily and securely work with other payment and service providers.

Guaranteed price upfront : It can seem a long, expensive road from your idea to completed software. Not with us. Your price never goes up – if it’s done quicker, you pay less

Can we get Counselling for our App ?

We provide our senior resource for Rs 25000/- one time , for a complete counselling session on the app building. Such session consist of 4 classes and it will help you in creating a sketch of your project. This session does not put you into any obligation to get the mobile application build through us.

Drop a message in our contact section, we will get back to you for more details. Follow us on your favourite Social Media

Build a Great App by using external API

Sun, 07 May 2023 01:40:44 +0530

APIs are mechanisms that enable two software components to communicate with each other using a set of definitions and protocols. For example, the weather bureau’s software system contains daily weather data. The weather app on your phone “talks” to this system via APIs and shows you daily weather updates on your phone.

What does API stand for?

API stands for Application Programming Interface. In the context of APIs, the word Application refers to any software with a distinct function. Interface can be thought of as a contract of service between two applications. This contract defines how the two communicate with each other using requests and responses. Their API documentation contains information on how developers are to structure those requests and responses.

Some important 3rd Party APIs for a Financial Services App

Most of the MF distribution application need following APIs to make it useful and customer friendly :

NSE NMFII API : For enabling Online transaction in your application
BSE Star MF API : For enabling Online transaction in your application
MFU Utility API : For enabling Online transaction in your application
CAMS E KYC API : For creating Online KYC for new On boardings
Advisor Khoj/ Morning Star etc : For presenting scheme wide data and charts
PaySprint/ Bill Avenue etc : For enabling PAN card creation, Online payments and other Bill Payments
Policy Anchor/ Policy Bazaar etc : For presenting Insurance Quotes and comparison along with Online buying
Finnsys 360 API : For presenting complete customer data through RTA feed

How to get these APIs ?

All these APIs are available at free or reasonable annual charges, from the respective entities. We provide full support in getting these APIs in case the app development is done by us. APIs are classified both according to their architecture and scope of use. We have already explored the main types of API architectures so let’s take a look at the scope of use.

Private APIs

These are internal to an enterprise and only used for connecting systems and data within the business.

Public APIs

These are open to the public and may be used by anyone. There may or not be some authorization and cost associated with these types of APIs.

Partner APIs

These are only accessible by authorized external developers to aid business-to-business partnerships.

Composite APIs

These combine two or more different APIs to address complex system requirements or behaviours.

Can we get Counselling for our App ?

Drop a message in our contact section, we will get back to you for more details. Follow us on your favourite Social Media