Axis Mutual Fund Taps ONDC to Expand Investor Reach

Axis Mutual Fund has officially joined the Open Network for Digital Commerce (ONDC), a government-backed initiative, to enable digital access to its mutual fund schemes across a wider investor base. This integration allows investors to transact in Axis Mutual Fund products through the ONDC network.

ONDC Platform 

ONDC is an initiative led by the Department for Promotion of Industry and Internal Trade (DPIIT) under the Ministry of Commerce. It is designed to create an open and interoperable digital commerce network that operates independently of any single platform.

Mutual Fund Integration

Axis Mutual Fund’s participation enables its investment schemes to be available on the ONDC network. The company confirmed that this move supports wider availability of mutual fund products using ONDC’s shared digital infrastructure. It is aimed at making mutual fund investments easier to access, especially for users in areas where such services may not be readily available.

Distribution and Transaction Details

Investors can now access Axis Mutual Fund offerings via ONDC-compatible partner platforms such as Cybrilla. This setup is to simplify access to mutual fund transactions and reduce reliance on traditional distribution channels. As ONDC allows participation from multiple entities, investors do not need to depend on any one application or service provider to invest.

Focus Areas

The initiative is aligned with efforts to use digital systems to increase the reach of financial products. It leverages existing infrastructure to lower transaction and distribution barriers. As per the reports, the structure also supports secure and standardised transactions through government-regulated protocols.

Implementation and Access

Axis Mutual Fund stated it will continue exploring additional digital integrations to reach a wider set of users. The availability of mutual fund schemes on ONDC is part of ongoing efforts to use public infrastructure for delivering financial products more efficiently.

Conclusion

Axis Mutual Fund’s integration with ONDC allows mutual fund schemes to be accessed digitally through an open network, adding another channel for investors to engage with its offerings.

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