Impact of Technology on the Expansion of Mutual Fund Investments in India

Abstract

The Indian Financial system encompasses dynamic financial markets, with the FinTech movement gaining momentum in recent decades. This growth is evident in various financial products offered by Financial Institutions, driven by the fundamental need to adapt to evolving consumer demands. The mutual fund industry in India has adeptly adjusted to the changing financial landscape, launching the first online mutual funds investment platform in Indonesia in 2016 to attract more investors. This study aims to assess the impact of technology on mutual fund investment growth in the post-COVID-19 era. The literature review indicates that FinTech has positively influenced financial institutions involved in mutual fund services in India. The mutual fund sector has experienced remarkable growth 
attributed to digitization, as customers increasingly recognize the importance of investing in humanity. Asset Under Management (AUM) has surged significantly in recent months, with improved customer satisfaction facilitated by better access to the back office, even from remote locations. 
Particularly, mutual funds emerged as a safe investment during the COVID-19 pandemic, influencing their results. In conclusion, this article contributes to our understanding of financial technologies, exploring their effects on the financial sector, addressing challenges, and highlighting their potential.