| State
Bank of India Mutual Funds back-office processing. |
| The
Client: |
| One
of the leading Mutual Funds, State Bank of India Mutual Fund
(SBIMF) collects funds from the public by offering various types
of schemes and invests in the capital market in various types
of security. The accrued gains and losses are passed on to the
investors in proportion to the number of units owned by them.
Today they provide personal and corporate mutual fund services
to more than 300,000 of investors across the country through
their 29 investor service center and more than 10,000 distributors
across the globe. |
|
| The
Challenge: |
|
|
"
SBIMF needed to services and support more than 300,000 investors,
their own 29 investor service centers and more than 10,000 distributors. |
|
|
"
SBIMF needed a Daily Transaction Report by 10.00 a.m. and online
information for their Investors, distributors, Investor Service
Center, Payment of financial transactions and dispatch of Statement
of Account on T+0 (same day) time. |
|
|
"
Brokerage had to be paid by 5th of every month to distributors.
Various MIS reports to be given to SBI headquarters also by
the 5th of every month. |
|
| The
Solution : |
| Computronics's
IT team developed a Transaction Processing software customized
to SBIMF requirement. This software was synchronized with our
web-based application to give online information. |
|
| The
Benifits : |
| There
was a lot of time saved by giving online access to the various
users of SBIMF data. Using the online application SBIMF was
able to monitor their Distributors and Investors more closely.
They were able to get the customized reports on their various
daily transactions. |
| The
investors were able to see their transactions online like repurchase,
change of address, switch-over etc |
| The
brokers were able to also monitor their activity more closely
and one of them being their brokerage calculation and mobilization
of funds. |
| The
investor service centers were also able to give walk-in investors
prompt and up to date information on their portfolios.
|
| Developing
the web application led to giving SBIMF information in T+0 time |
