Traditional vs FP


Traditional MF platforms come with technology from the 90s.

Age old mutual fund platforms come with several obstacles — no sandbox, poorly designed APIs, multiple errors and 45 days response time to queries. It’s time you switch to a modern fintech experience. Acquire customers, scale with zero ops, and retain clients with new use cases.



That was then. This is now.


Looking for alternatives to replace traditional mutual fund platforms? See what makes Fintech Primitives modern API experience so much better than legacy tools.

Client onboarding
Features Traditional MF Platforms Fintech Primitives
Registration Physical forms and signature required 100% paperless
Account Opening Form High rate of rejected transactions due to lack of AOF or wrong AOF Not required. 100% paperless
CAN Required for the offline era 1 simple API to onboard users
KYC (Know more)
Features Traditional MF Platforms Fintech Primitives
Video KYC enablement Minimum investment of ₹ 5000 Minimum investment of ₹ 100
Video KYC integration Not available
(Redirection, with no control over experience)
1 simple API, with full control over end user experience
Video KYC status Not available Easy status check
Cost Anywhere between ₹ 500 - 3000 Near zero costs
KYC type Could be full or partial Full KYC
First time KYC status check Not available 1 simple API for instant status check through PAN
Paperless KYC Not available 100% paperless Video KYC APIs
Flexibility to switch over to other KYC providers Not available Yes
Product Guides Not available Simple workflow guide to integrate the API
Modes of placing transactions
Features Traditional MF Platforms Fintech Primitives
Multiple modes supported Not available Yes
Exhanges / RTAs Either one Both the exchanges (BSE/NSE) and all the RTAs
AMCs Not available Yes (for use cases like instant redemption)
Orders (Know more)
Features Traditional MF Platforms Fintech Primitives
STP/SWP/Switch Yes Yes
Cut off times Not communicated as orders are placed in batches Same day NAV for orders placed upto 1 minute before cut off time
Order Execution and Financial Operations (Know more)
Features Traditional MF Platforms Fintech Primitives
Automated financial operations Not available Constantly being automated
Fallback mechanism for automated financial operations Not available Point of Contact that monitors issues & follows up with the respective partner company on behalf of the distributor
Customer support Queries stay unresolved for more than 45 days Realtime updates with different error states and reasons via APIs
Lumpsum order reconcilliations Orders reconcilliation is not 100% available Zero errors
SIP order reconcilliations Cancelled SIPs remain marked as active, leading to confusion for investors Zero errors
Offline cheque payment Can take upto 15 days to process the cheque payment. 15 days is a long time in a volatile market. This hampers investors from moving their money into new schemes Zero issues
Support for multiple mandate types Not available Mandate is on the distributor's name (in the case of RTAs) or on the exchange (in the case of BSE/NSE)
Fund scheme master Not updated or needs to be manually downloaded every morning at 9.30 AM with zero SLA's around consistency or accruacy of data Updated every 2 weeks through AMCs, available in realtime through a simple API
Rejected orders Multiple cases where order details were wrong due to various reasons, leading to rejected orders Updated scheme master and automated reconcilliation brings down rejected transactions to near zero
Orders - New Use Cases (Know more)
Features Traditional MF Platforms Fintech Primitives
Virtual SIP, Pause SIP, Skip SIP Not available Yes
Instant redemption Not available Yes (Currently with 5 AMCs)
Rebalancing Not available
(Not possible as orders reconcilliation and match off is broken)
Yes
Operations team (Know more)
Features Traditional MF Platforms Fintech Primitives
Team Hire, train and build a team as the business scales with more clients. Zero Ops Team
Payments (Know more)
Features Traditional MF Platforms Fintech Primitives
Choose your own payment gateway Not available Yes (Partnered with Razorpay and TechProcess) for RTA mode
Payments testing Not available
(Can only test in production)
Can simulate and test on sandbox (with all possible states), instead of directly on production
Payment recon High failure rate as reconcilliation and match off are mssing Zero payment errors
Payment Options Limited Multiple options including physical mandate, eMandate, eNACH using NPCI, debit card, UPI
Payments page issues Grid to select the option of payment like netbanking, mandate, etc is not mobile responsive. Dropdown options are unclear and confuse the user Zero issues
End user drop offs Atleast 30% drop off rate observed Zero drop offs
Netbanking page Redirection to netbanking page fails multiple times Zero redirection errors
Wait time If there is a failure, there is a wait time of 15-30 mins before the user can try again, leading to user dropping off Automated retries leading to zero wait time
Reporting Data
Features Traditional MF Platforms Fintech Primitives
Data quality Garbage in, Garbage out Yes
Ability to customize and build beautiful visualizations Not available Yes
Reporting (Know more)
Features Traditional MF Platforms Fintech Primitives
Holdings, Capital Gains, XIRR and others Not available Yes
Scheme mergers Not available Automated
Folio consolidation Not available Automated
Transfer in/Transfer out Not available Automated
Migration of exsiting folios Not available Automated
CAS (Know more)
Features Traditional MF Platforms Fintech Primitives
All historical data Not available Yes
Ability to customize and build beautiful visualizations on top of the API Not available Yes
Calculated final holdings Not available Yes
Regular monitoring and updation of the CAS algorithm Not available Yes
Market data (Know more)
Features Traditional MF Platforms Fintech Primitives
Fund performance data Not available Available through partner APIs
Recommendation engine (Know more)
Features Traditional MF Platforms Fintech Primitives
Goal based recommendations Not available Available through partner APIs
Customize your own logic Not available Available through partner APIs
Technology
Features Traditional MF Platforms Fintech Primitives
Sandbox Not available Free to test and integrate all APIs.
Errors API retruns one error status without any reasons for failure Multiple states are provided with the appropriate reasons of failure
Product Guides Not available (Requires consulting from companies who have already used it) Simple workflow guide. Prior mutual funds knowledge not required. Any developer can start building a robo advisor.
Payments testing Not available (Can only test in production) Can simulate and test on sandbox (with all possible states), instead of directly on production
Onboarding data Ask for the same data points repetitively 1 API that is required to be used only once
Communication on API updates No communication before changes. Have updated thrice in one year leading to breakdown in end user experience Well informed in advance
API versions None. If an update is made, the distributor has to adopt it or risk breaking their app Properly versioned with continued support for older versions
API documentation Shared in multiple PDFs with no clear versions Updated documentation (with examples and explanations) that can be referred anytime
Integration Support
Features Traditional MF Platforms Fintech Primitives
Technical queries Anywhere between 3-15 days to reply back Within 24 business hours
Integration support Not available Technical guidance from the product and engineering team
New use cases Not available Guidance from the product and engineering team

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