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Tata MF launches contactless on-boarding for first-time investors

Our Bureau Mumbai | Updated on September 24, 2020 Published on September 24, 2020

Tata Mutual Fund has launched ‘contact-less on-boarding’ for first-time investors in mutual funds. The process makes the account-opening experience paper-less.

Investing in mutual funds mandates the fulfilment of the KYC (Know Your Customer) process. The same has now been enabled in a digital mode of e-KYC.

Anyone wanting to start investing needs to have scans of their KYC details including identity proof, PAN card, address proof, photograph, a cancelled cheque and signatures.

Once all documents are uploaded on the Tata MF website, the investor is required to start real-time video-recording using her smartphone or computer and read aloud the dynamic OTP displayed on the screen.

On successful completion of this process, the AMC (asset management company) personnel will verify them and the investor will receive an intimation to initiate investments.

MVS Murthy, Head - Marketing and Digital, Tata Asset Management, said the process will benefit all channel partners and acquisition channels by reducing their paperwork and associated leg work.

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Published on September 24, 2020
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