{"id":37425,"date":"2024-10-08T14:30:36","date_gmt":"2024-10-08T09:00:36","guid":{"rendered":"https:\/\/financialtelegraph.in\/index.php\/2024\/10\/08\/appreciate-becomes-the-first-company-to-enable-mutual-fund-investments-on-ondc-network\/"},"modified":"2024-10-08T14:30:36","modified_gmt":"2024-10-08T09:00:36","slug":"appreciate-becomes-the-first-company-to-enable-mutual-fund-investments-on-ondc-network","status":"publish","type":"post","link":"https:\/\/financialtelegraph.in\/index.php\/2024\/10\/08\/appreciate-becomes-the-first-company-to-enable-mutual-fund-investments-on-ondc-network\/","title":{"rendered":"Appreciate Becomes the First Company to Enable Mutual Fund Investments on ONDC Network"},"content":{"rendered":"
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\"Appreciate\"<\/p>\n

Mumbai (Maharashtra) [India] October 8: <\/span><\/strong>In a significant milestone for India\u2019s financial services sector,\u00a0Appreciate\u00a0carried out the first low ticket (Rs. 100) mutual fund transaction on the\u00a0Open Network for Digital Commerce (ONDC) Network. Appreciate is one of the first buyer apps to go live on ONDC Network offering mutual fund (MF) investments via Appreciate integrated investment platform.<\/p>\n

The launch forms part of\u00a0Appreciate and ONDC Network\u2019s broader strategy\u00a0to\u00a0democratize access to investment products\u00a0across India, especially in regions underserved by traditional financial services.\u00a0Appreciate, acting as a\u00a0buyer app, facilitates seamless interaction between AMCs and customers, with\u00a0Nippon India AMC\u00a0being the first AMC to accept investments through the ONDC protocol.<\/p>\n

Aligned with ONDC\u2019s vision of financial inclusion, Appreciate also enables\u00a0sachet-sized investments, making it possible for users to invest small amounts and begin their wealth-creation journey. Additionally, Appreciate intends to add mutual funds to its growing embedded finance solutions stack \u2013 available for use by other fintech, retail and marketplace businesses \u2013 supporting the continued expansion and penetration of this asset class.<\/p>\n

ONDC Network, initially designed to boost e-commerce in India, is now diversifying its services to include a full range of\u00a0financial products. Its entry into the mutual fund space comes on the heels of its successful\u00a0digital lending services, which went live in August 2024, offering\u00a0paperless loans\u00a0processed in just six minutes.\u00a0Insurance offerings\u00a0are also expected to follow soon, further expanding ONDC Network\u2019s financial services portfolio.<\/p>\n

Subho Moulik, Founder & CEO of Appreciate\u00a0said, \u201cAppreciate is proud to partner with ONDC Network to have made the first mutual fund transaction happen on its protocol, a stepping stone for us towards enabling access of investment products across a wider geography in India. With our investment products portfolio and partnerships, we remain fully committed to our mission of making wealth creation a reality for 1.4 billion people.\u201d<\/p>\n

T Koshy, MD & CEO of ONDC, commented, \u201cThis integration with Appreciate marks a significant leap in making financial services more accessible and inclusive through the ONDC Network. By enabling low-ticket mutual fund investments, we are not only diversifying the types of services offered on the network but also making strides towards deepening financial inclusion in India. Our vision is to democratize financial products in the same way as we\u2019ve approached e-commerce, ensuring that individuals from every corner of the country can access and benefit from investment opportunities.\u201d<\/p>\n

If you have any objection to this press release content, kindly contact pr.error.rectification@gmail.com to notify us. We will respond and rectify the situation in the next 24 hours.<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Mumbai (Maharashtra) [India] October 8: In a significant milestone for India\u2019s financial services sector,\u00a0Appreciate\u00a0carried out the first low ticket (Rs. 100) mutual fund transaction on the\u00a0Open Network for Digital Commerce … Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":37426,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[448],"class_list":["post-37425","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-business","entry"],"_links":{"self":[{"href":"https:\/\/financialtelegraph.in\/index.php\/wp-json\/wp\/v2\/posts\/37425","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/financialtelegraph.in\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/financialtelegraph.in\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/financialtelegraph.in\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/financialtelegraph.in\/index.php\/wp-json\/wp\/v2\/comments?post=37425"}],"version-history":[{"count":0,"href":"https:\/\/financialtelegraph.in\/index.php\/wp-json\/wp\/v2\/posts\/37425\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/financialtelegraph.in\/index.php\/wp-json\/wp\/v2\/media\/37426"}],"wp:attachment":[{"href":"https:\/\/financialtelegraph.in\/index.php\/wp-json\/wp\/v2\/media?parent=37425"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/financialtelegraph.in\/index.php\/wp-json\/wp\/v2\/categories?post=37425"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/financialtelegraph.in\/index.php\/wp-json\/wp\/v2\/tags?post=37425"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}