Bajaj Finserv MF Innovation Proposition: WhatsApp for Partners

Bajaj Finserv MF has introduced a WhatsApp partner channel which can revolutionalize the way mutual fund distributors (MFDs), especially new MFDs can conduct their business. The channel uses WhatsApp Chatbots to provide mutual fund services including transaction capabilities using conversational commerce.

WhatsApp Chatbot and its use in customer servicing

A WhatsApp Chatbot is a WhatsApp based interface that interacts with users via text messaging. Unlike mobile applications, the interaction with the Chatbot is conversational, personalized (human like) and the user gets real time information. Instead of having to look for information on a web based (desktop) or mobile app, you are guided through the customer service journey by the Chatbot. There are several reasons why WhatsApp Chatbots are becoming popular in customer servicing and digital commerce.

1. You do not have to download one more app on your mobile. You can save it on your phone’s memory / internal storage.


2. Any new app takes a bit of time to get familiarized with. Using a WhatsApp Chatbot, you will be using an app that you and your customers are likely to be very familiar with.


3. WhatsApp is the second most popular social media app in the world. There are more than 66 crores WhatsApp users in India (source: Statista, 2023), projected to grow to nearly 80 crores by 2025 (source: Statista)

Many businesses across industries ranging from banking, insurance, telecom, airlines, automobiles etc, are using WhatsApp for customer service.

Bajaj Finserv MF’s revolutionary WhatsApp partner channel will ease the way you do business, bring more efficiency in the way you enable your investors / customers’ transactions, reduce errors in placing your orders and rejections thereof, and simplify customer service. This WhatsApp partner channel can be especially beneficial for new distributors who may not be familiar with different requirements. If you are a new distributor or an experienced distributor, the less time you spend on transaction processing or rework due to rejections, the more time you can devote to sales and growing your book of business.

In this article, we will demonstrate some great features of Bajaj Finserv MF WhatsApp partner channel.

Easy Empanelment

You can get empanelled with Bajaj Finserv AMC in less than 20 seconds by following a few simple steps:-

Transactions simplified

After you get empanelled with Bajaj Finserv AMC, you can initiate your customers’ transactions through the Whatsapp partner channel. Text “Hi” to +91-9765296666, enter KYD mobile number and enter OTP. Then select “Purchase” from the main menu. For a first time purchase (new folio) the steps are very simple.

For transaction fulfillment, the investor has to pay through Net banking or UPI.

To facilitate payment and transaction fulfillment Bajaj Finserv will generate a custom QR code for you, using which your customers can transact through your ARN. The customer will scan the QR code, review scheme details and make the payment as shown below.

Generating your custom QR code

Once you have custom QR code the customer can make payment following these simple steps.

You can see that the transaction flow through the Bajaj Finserv MF’s Partner WhatsApp channel is very user friendly and intuitive, and can be used by new and experienced distributors. Using the Partner WhatsApp channel, you can do all kinds of mutual fund transactions for your investors including additional purchase, SIP, switches, STP, SWP etc. You can check transaction status and generate Statement of Account (SOA) for different periods for sharing with investors easily on WhatsApp.

Summing Up: - Why sign up for Bajaj Finserv MF’s WhatsApp partner channel?

• User friendly – The WhatsApp partner channel is easy to use, convenient and fast.


• 24 X 7 accessibility – You can access WhatsApp partner channel on your mobile phone at any time and from any place.


• 100% paperless – End to end digital process, eco-friendly and efficient.


• Rejections minimized – There are validation checks at various steps in the investment journey. This reduces possibility of rejections.


• Quick - All financial and non-financial transactions can be done in around 60 seconds.


• Improved productivity – You can reach clients easily, get new clients and grow your business.


• No need to download a new mobile app – You do not need to download another app for your Bajaj Finserv MF transactions or servicing. You can avail customer service using your WhatsApp.

New distributors can get themselves empanelled with Bajaj Finserv AMC by using WhatsApp partner channel. Bajaj Finserv MF distributors should contact their relationship managers if they want to know more about the WhatsApp partner channel.