What’s the story
Quantum Asset Management Company (AMC) has joined the Open Network for Digital Commerce (ONDC), a move that could revolutionize mutual fund distribution in India.
The ONDC network aims to connect Asset Management Companies (AMCs) and mutual fund distributors seamlessly.
This partnership is part of Quantum’s strategy to leverage India’s Digital Public Infrastructure (DPI) for expanding access to financial products, especially in underpenetrated markets.
Seamless access to financial products
The ONDC network will allow different live “Buyer Apps” offering mutual funds to provide Quantum Mutual Fund products to their customers.
This move is aimed at simplifying investors’ financial journeys and ensuring a seamless user experience.
It provides direct access to financial products and services within apps already in use, eliminating the need for multiple downloads or management of different applications.
Commitment to financial inclusion
Seemant Shukla, the CEO of Quantum AMC, emphasized their commitment to financial inclusion.
He said that partnering with ONDC is not just about adding a new channel but democratizing wealth creation.
The network will help them reach Bharat and turn small savings into meaningful investments.
This partnership is a major step in their mission to simplify finance and make it accessible for every Indian citizen.
Potential for broad-based financial growth
The ONDC network’s potential to reach the masses, especially rural and low-income households, is a game-changer.
It will allow these groups to invest in small, manageable amounts.
This partnership marks a significant step toward making mutual funds a tool for broad-based financial growth and inclusive wealth creation across India.