SBI MF launches WhatsApp service for distributors

By Morningstar |  22-05-20 | 
 

SBI Mutual Fund has launched WhatsApp service for distributors through which they can initiate a host of transactions.

 This is how you can use this service.

Authentication Procedure:

The distributor has to type the message ‘Hi’ to Distributor WhatsApp number 7208017353 from WhatsApp with a mobile number linked to his ARN number.

List of services being provided:

Only after mobile number linked to ARN number is authenticated with WhatsApp number (on real-time), the distributor will be able to access his sales summary details and also initiate transactions for investors who are linked with his ARN.

For servicing Investors

All investor-related services are available only for investments and folios that are done through ARN code. The distributor has to enter investor’s PAN to start these journeys of initiating Lumpsum, SIP, SWP, Switch, STP, generating an account and capital gain statements, and to view investor’s valuation.

1,2: For initiating Lumpsum, SIP:

  • Distributor enters investor’s PAN number and gets a list of investor’s folio(s) which are linked with this ARN; If no investments are found with this combination, Appropriate message is shown
  • Distributor selects a folio and inputs required scheme details, EUIN details, Amount, Frequency, etc. and submits a transaction
  • Transaction gets initiated and link sent to investor’s email ID and mobile number
  • Investor opens the link in browser and completes the transaction

3: For Switch, STP, SWP:

  • Distributor enters investor’s PAN number and gets a list of investor’s folio(s) which are linked with this ARN; If no investments are found with this combination, Appropriate message is shown
  • Distributor selects a folio to view schemes in that folio which are linked to this ARN and are having clear units, and selects the From Scheme
  • Distributor inputs required target scheme details, EUIN details, Amount/units, Frequency, etc. and submits transaction (Only Amount/units required for SWP)
  • Transaction gets initiated and link sent to investor’s email ID and mobile number
  • Investor opens the link in browser and completes the transaction

4: Generate Statements:

  • Distributor enters investor’s PAN number and gets a list of investor’s folio(s) which are linked with this ARN
  • Distributor selects the folio and selects the period for which he wants to generate Account/ Capital gains statement for investor email
  • On submission, the statement is sent to investor’s mail ID

5: Investor Valuation:

  • Distributor enters investor’s PAN number and gets a list of investor’s folio(s) which are linked with this ARN and also the amounts of investments as a folio wise summary; If no investments are found with this combination, Appropriate message is shown
  • Distributor can select Folio wise valuation where he’ll see all schemes in that folio linked to his ARN
  • Distributor can select Scheme wise valuation to see consolidated schemes level amounts linked to his ARN

To analyse sales summary:

Distributor has to select the options from Menu, and can view below business aspects:

6: Sales as on date:

 Displays the MTD and YTD Gross and Net sales on selecting this option

E.g.:

Your SBIMF net sales:

MTD is Rs 1,925,108

YTD is Rs 865,108

Your SBIMF gross sales:

MTD is Rs 2,922,480

YTD is Rs 2,869,680

 7: AUM:

Displays AUM as on date with total AUM and category wise AUM

E.g:

Your total AUM as on 22 Apr 2020 with SBIMF is Rs 72,598,840

Your EQUITY AUM is Rs 70,163,058

Your DEBT AUM is Rs 1,830,282

Your CASH AUM is Rs 355,513

 8: Market Share:

Get Market share for your region on selecting this option

Output: In Mumbai, you have a market share of 4.70% in AUM, 1.80% in the number of SIPs and 3.30% in gross sales.

9: Brokerage Details:

Get the brokerage amount details paid for the ARN for latest available month

E.g.: Brokerage paid for Feb-20 is Rs 45,375

10: Live SIP Details:

Get active SIPs count and expected inflow amount for your ARN

E.g.: A total of 129 SIP(s) are live. Your expected inflow for the same is Rs 632,900

Other Services

Other than above mentioned main services, distributors can also access services by typing the respective keyword of requirement in their chat box:

  • SIP Calculator
  • Fund Name to Know Fund details
  • Nearest branch
  • Exit Load
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