[ad_1]
Deciml is a micro-investing and micro-savings app that allows young Indians to automatically invest their spare change (up to Rs. 1/-) from online transactions in mutual funds or fixed return funds. India’s first and only app to offer micro investment options for mutual funds is based in Pune, the company was founded in 2020 by CFA level 2 and seasoned entrepreneur Satyajit Kunjir.
Being a socially responsible brand, Deciml understands the importance of starting early and thus making the initiation of young India into the investment ecosystem as easy as possible. Add at least 1% more young people to the targeted investment path, thereby raising India’s current investment penetration of 3.5%. Not only to get you started, the app’s additional features like daily/weekly investments help you stay consistent. mr. Satyajeet Kunjeer, Founder and CEO, Deciml share more insights on the same.
- What do you mean by hedge investment? Who is his target audience?
Pooled investing allows you to invest your free balance from online transactions. For example, if someone purchases groceries worth Rs 495 through UPI, the app will round it up to the next 10, which in this case is 500, and invest the digital spare change of Rs 5 on your behalf.
Pooled investing can be a useful investment tool for investors of all ages, but especially for young people between the ages of 18 and 25 who are just starting to make money.
In this information age, young people are well aware of the various benefits of investing, but they don’t know where and how to start. Also, they don’t want to invest too much of their savings. By investing through a bypass, they can start early and start small.
- Take us through the customer journey in the app
Deciml’s core mechanism involves rounding up online transactions and investing change. This automated process consists of two parts: rounding up and actually investing.
To round it off – when users receive a transaction SMS from their respective banks, Deciml takes the exact amount spent. It rounds it to the next 10 or a multiple of 10 as specified by the user. To continue, the user must give permission to view the SMS at the very beginning and no other SMS except transactional ones are read.
About Debiting and Investing – “Users Create Autopay Mandate with Deciml”
With a mandate of this nature, Deciml can immediately debit the amount to be invested without requiring further information from the user. Apart from this, the user must also go through a simple KYC (Know Your Customer) process as required by the Reserve Bank of India for all Indian investors.
- How and where is the collected money actually invested?
Users can choose to invest their money in mutual funds or fixed return fund options.
- What are the company’s near-term and long-term plans?
We’re launching the Deciml app on the Apple Store soon, and with that Deciml will be the first micro-investment platform on iOS.
With a wide range of investment and financial services customized to the needs of our users, we aim to become an all-in-one financial destination for young Indians in the next five years.
- From a technical perspective, the personal finance space has evolved dramatically in recent years, where do we go from here?
Over the past few years, data has become the most valuable resource for any company,
And technologies such as advanced data analytics, artificial intelligence and machine learning are increasingly being used to access, control and evaluate such raw data, thereby helping us to better understand human behavior and human psychology.
The creation of India Stack has been instrumental in transforming the financial industry from Aadhar for digital identification to Digi locker/eKYC for paperless verification and UPI for interoperable payments.
Also, financial data that is centralized and fully controlled by user consent makes Account Aggregator a game changer for the financial industry as well.
- Tell us about the technology stack that your platform uses
We have implemented a robust technology mechanism including e-KYC and AutoPay built on top of UPI 2.0 to ensure that customer onboarding is absolutely seamless. We have also used 256-bit AES encryption (bank-grade encryption) to ensure the security of user data.
The application is built on Flutter, which is a platform from Google for building hybrid applications (Android and iOS) and ss backend, we use the Google Cloud platform.
[ad_2]
Source link