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
FeaturesTraditional MF PlatformsFintech Primitives
RegistrationPhysical forms and signature required100% paperless
Account Opening FormHigh rate of rejected transactions due to lack of AOF or wrong AOFNot required. 100% paperless
CANRequired for the offline era1 simple API to onboard users
KYC (Know more)
FeaturesTraditional MF PlatformsFintech Primitives
Video KYC enablementMinimum investment of ₹ 5000Minimum investment of ₹ 100
Video KYC integrationNot available
(Redirection, with no control over experience)
1 simple API, with full control over end user experience
Video KYC statusNot availableEasy status check
CostAnywhere between ₹ 500 - 3000Near zero costs
KYC typeCould be full or partialFull KYC
First time KYC status checkNot available1 simple API for instant status check through PAN
Paperless KYCNot available100% paperless Video KYC APIs
Flexibility to switch over to other KYC providersNot availableYes
Product GuidesNot availableSimple workflow guide to integrate the API
Modes of placing transactions
FeaturesTraditional MF PlatformsFintech Primitives
Multiple modes supportedNot availableYes
Exhanges / RTAsEither oneBoth the RTAs
AMCsNot availableYes (for use cases like instant redemption)
Orders (Know more)
FeaturesTraditional MF PlatformsFintech Primitives
Cut off timesNot communicated as orders are placed in batchesSame day NAV for orders placed upto 1 minute before cut off time
Order Execution and Financial Operations (Know more)
FeaturesTraditional MF PlatformsFintech Primitives
Automated financial operationsNot availableConstantly being automated
Fallback mechanism for automated financial operationsNot availablePoint of Contact that monitors issues & follows up with the respective partner company on behalf of the distributor
Customer supportQueries stay unresolved for more than 45 daysRealtime updates with different error states and reasons via APIs
Lumpsum order reconcilliationsOrders reconcilliation is not 100% availableZero errors
SIP order reconcilliationsCancelled SIPs remain marked as active, leading to confusion for investorsZero errors
Offline cheque paymentCan 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 schemesZero issues
Support for multiple mandate typesNot availableMandate is on the distributor's name (in the case of RTAs)
Fund scheme masterNot updated or needs to be manually downloaded every morning at 9.30 AM with zero SLA's around consistency or accruacy of dataUpdated every 2 weeks through AMCs, available in realtime through a simple API
Rejected ordersMultiple cases where order details were wrong due to various reasons, leading to rejected ordersUpdated scheme master and automated reconcilliation brings down rejected transactions to near zero
Orders - New Use Cases (Know more)
FeaturesTraditional MF PlatformsFintech Primitives
Virtual SIP, Pause SIP, Skip SIPNot availableYes
Instant redemptionNot availableYes (Currently with 5 AMCs)
RebalancingNot available
(Not possible as orders reconcilliation and match off is broken)
Operations team (Know more)
FeaturesTraditional MF PlatformsFintech Primitives
TeamHire, train and build a team as the business scales with more clients.Zero Ops Team
Payments (Know more)
FeaturesTraditional MF PlatformsFintech Primitives
Choose your own payment gatewayNot availableYes (Partnered with Razorpay and TechProcess) for RTA mode
Payments testingNot available
(Can only test in production)
Can simulate and test on sandbox (with all possible states), instead of directly on production
Payment reconHigh failure rate as reconcilliation and match off are mssingZero payment errors
Payment OptionsLimitedMultiple options including physical mandate, eMandate, eNACH using NPCI, debit card, UPI
Payments page issuesGrid to select the option of payment like netbanking, mandate, etc is not mobile responsive. Dropdown options are unclear and confuse the userZero issues
End user drop offsAtleast 30% drop off rate observedZero drop offs
Netbanking pageRedirection to netbanking page fails multiple timesZero redirection errors
Wait timeIf there is a failure, there is a wait time of 15-30 mins before the user can try again, leading to user dropping offAutomated retries leading to zero wait time
Reporting Data
FeaturesTraditional MF PlatformsFintech Primitives
Data qualityGarbage in, Garbage outYes
Ability to customize and build beautiful visualizationsNot availableYes
Reporting (Know more)
FeaturesTraditional MF PlatformsFintech Primitives
Holdings, Capital Gains, XIRR and othersNot availableYes
Scheme mergersNot availableAutomated
Folio consolidationNot availableAutomated
Transfer in/Transfer outNot availableAutomated
Migration of exsiting foliosNot availableAutomated
CAS (Know more)
FeaturesTraditional MF PlatformsFintech Primitives
All historical dataNot availableYes
Ability to customize and build beautiful visualizations on top of the APINot availableYes
Calculated final holdingsNot availableYes
Regular monitoring and updation of the CAS algorithmNot availableYes
Market data (Know more)
FeaturesTraditional MF PlatformsFintech Primitives
Fund performance dataNot availableAvailable through partner APIs
Recommendation engine (Know more)
FeaturesTraditional MF PlatformsFintech Primitives
Goal based recommendationsNot availableAvailable through partner APIs
Customize your own logicNot availableAvailable through partner APIs
FeaturesTraditional MF PlatformsFintech Primitives
SandboxNot availableFree to test and integrate all APIs.
ErrorsAPI retruns one error status without any reasons for failureMultiple states are provided with the appropriate reasons of failure
Product GuidesNot 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 testingNot available (Can only test in production)Can simulate and test on sandbox (with all possible states), instead of directly on production
Onboarding dataAsk for the same data points repetitively1 API that is required to be used only once
Communication on API updatesNo communication before changes. Have updated thrice in one year leading to breakdown in end user experienceWell informed in advance
API versionsNone. If an update is made, the distributor has to adopt it or risk breaking their appProperly versioned with continued support for older versions
API documentationShared in multiple PDFs with no clear versionsUpdated documentation (with examples and explanations) that can be referred anytime
Integration Support
FeaturesTraditional MF PlatformsFintech Primitives
Technical queriesAnywhere between 3-15 days to reply backWithin 24 business hours
Integration supportNot availableTechnical guidance from the product and engineering team
New use casesNot availableGuidance from the product and engineering team

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