NIMF: Deep analytics embedded in all digital assets

Nippon India Mutual Fund is adding close to 30,000 new users on its apps and website every month

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Nippon India Mutual Fund (NIMF) is one of India's leading mutual funds, with presence in 270 locations across the country. Arpanarghya Saha is Chief Digital Officer at the company; he provides insightful updates in the digital strategy and progress of the company.

Mehul Dani: What were the changes made in the digital strategy for customers of your company in FY 2022-23? What are the key benefits?

Arpanarghya Saha: We at NIMF believe that our digital strategy is the north star that needs to be followed loyally and consistently to build a high growth and sustainable business. Our strategy, which revolves around creating a future ready, digital centric business, has 3 core pillars: 

1) User growth which focuses on building strong online presence to acquire and engage investors across the digital geography of this country, developing sharper customer understanding, and creating comprehensive campaign frameworks to drive engagement and business outcomes.

2) Virtual distribution which is about developing and nurturing strong relationships by being the partner of choice in the distribution and fintech ecosystem, exploring greenfield opportunities with first-mover execution, and building digital acumen amongst conventional salesforces.

3) Digital products & platforms which strives to create differentiated and impactful digital experiences and journeys that are geared up to onboard and serve multitudes of investors in line with their digital acumen & preferences.

While our core strategy remains cast in stone, we do keep altering our tactics and tweak our executional levers in the relevant pillar or pillars in response to market dynamics, external challenges & factors, and internal needs. Such tweaks and changes form a part of our business plans that we create, review, and recalibrate on a periodic basis.