AI powered robo spins money for Moti­lal Oswal

Arun Chaudhry, head-On­line Busi­ness & Prod­uct Devel­op­ment, Broking & Dis­tri­bu­tion, Moti­lal Oswal Se­cu­ri­ties, ex­plains how tech­nol­ogy has helped cre­ate a transformation in the com­pany:

Banking Frontiers - - Highlights - Me­hul@bank­ingfron­

Arun Chaudhry, head­On­line Busi­ness & Prod­uct Devel­op­ment, Broking & Dis­tri­bu­tion, Moti­lal Oswal Se­cu­ri­ties, ex­plains how tech­nol­ogy has helped cre­ate a transformation in the com­pany

Moti­lal Oswal Se­cu­ri­ties has seen a huge transformation on the dig­i­tal front over the last 18-24 months. From be­ing a small part of its busi­ness strat­egy, tech­nol­ogy is now one of the key busi­ness driv­ers for the com­pany.


The focus of Moti­lal Oswal’s dig­i­tal strat­egy for 2017-18 was to en­sure that its end cus­tomers en­joy a seam­less and per­son­al­ized ex­pe­ri­ence while trans­act­ing across any of its chan­nels - mo­bile app, web por­tal, desk­top ap­pli­ca­tion, or in­ter­act­ing with its sales and ad­vi­sory rep­re­sen­ta­tives. The com­pany has seen gi­ant leaps in terms of tech­nol­ogy of­fer­ings not just for cus­tomers but for its busi­ness part­ners, em­ploy­ees and other stake­hold­ers across the busi­ness in 2017-18. The com­pany has launched sev­eral unique, habit sen­si­tive plat­forms and prod­ucts keep­ing in mind the spe­cific needs of clients.

Arun Chaudhry, head - On­line Busi­ness & Prod­uct Devel­op­ment, Broking & Dis­tri­bu­tion at the com­pany claims that the com­pany is the only one in the in­dus­try to have ded­i­cated plat­forms for traders and in­vestors pro­vid­ing equal con­ve­nience to both the cus­tomer types. “This has proven to be very suc­cess­ful with the newly launched MO Trader App get­ting close to 1 lakh down­loads in a very short span of time. The com­bined on­line turnover is now in ex­cess of 50% with mo­bile be­ing the fastest grow­ing seg­ment at more than dou­ble the growth over the past year,” he elab­o­rates.

In the last fi­nan­cial year, Moti­lal Oswal launched 4 AI-powered robo based prod­ucts. ACE Cash & ACE De­riv­a­tives are unique algo-based ad­vi­sory port­fo­lios with 100% au­to­mated ex­e­cu­tion for eq­uity and de­riv­a­tives. TIP (Tar­get In­vest­ment Plan) is one of its kind end to end goal­based MF in­vest­ing plat­form to help clients achieve their var­ied re­quire­ments even­tu­ally help­ing them achieve their key life goals. Robo Wealth is a 100% robo based cus­tom port­fo­lio mod­el­ing tool with per­son­al­ized in­sights, multi-lan­guage and instant ex­e­cu­tion ca­pa­bil­i­ties. Me-Gold is in­dus­try’s first 100% on­line gold buy­ing/ sell­ing prod­uct with 999.99 pu­rity gold that can be delivered at cus­tomer’s doorstep.

All these unique prod­ucts have met with stu­pen­dous suc­cess in the past 3 quar­ters both in terms of busi­ness gen­er­a­tion and recog­ni­tion from clients and busi­ness part­ners alike, says Chaudhry. “With this solid foun­da­tion, we will now be fo­cus­ing on fur­ther sharp­en­ing our ex­ist­ing plat­forms and prod­ucts to make them more and more per­son­al­ized and rel­e­vant for our end users, which will be aided through better un­der­stand­ing of cus­tomer needs via Big Data An­a­lyt­ics, along with rolling out more in­dus­try-lead­ing prod­ucts, ca­ter­ing to our client’s in­vest­ment and fi­nan­cial needs,” he adds.


Be­ing in the broking and dis­tri­bu­tion space, Moti­lal Oswal re­al­ized that client’s money is of para­mount im­por­tance and hence all its en­er­gies are chan­nel­ized to un­der­stand their needs better to build wealth. “Tech­nol­ogy gives a B2C com­pany like us a huge op­er­a­tional ad­van­tage and helps us achieve mas­sive scale at a much lower cost,” says Chaudhry, adding: “An­other key role played by tech­nol­ogy is to en­sure 100% ac­cu­racy of in­for­ma­tion passed on to the clients, which is ex­tremely im­por­tant given the sen­si­tive role we play in man­ag­ing our client’s money. Dig­i­tal plat­forms also give us in­sights into very im­por­tant be­hav­ioral traits of the clients which bring us in a po­si­tion to make the user ex­pe­ri­ence richer and rel­e­vant at all points of time. We are now mov­ing from a B2C to a B2I model wherein through ar­ti­fi­cial in­tel­li­gence and robo based tools, we will be in a po­si­tion to identify every cus­tomer’s need and ad­dress it be­fore he/she even re­al­izes it.”


Moti­lal Oswal is highly fo­cused in terms of in­flu­enc­ing on­line as a ‘way of life’ for all its busi­ness part­ners. The com­pany en­sures that every stake­holder is given a fla­vor of its tech­nol­ogy prow­ess in the very first week of be­ing part of the MOSL fam­ily. The en­gage­ment with its busi­ness part­ners happens at mul­ti­ple lev­els through a whole lot of ini­tia­tives in the form of work­shops, sem­i­nars, com­mu­ni­ca­tions and reg­u­lar en­gage­ment and feed­back

process. Ac­cord­ing to Chaudhry, all these ini­tia­tives are fo­cused only on one agenda – how is on­line ben­e­fi­cial for you? The com­pany’s teams travel through­out the coun­try to ed­u­cate ex­ist­ing and prospec­tive cus­tomers and at the same time con­duct on­line we­bi­nars to make sure that the point of ‘be­ing on­line’ is well en­trenched into the minds of its busi­ness part­ners. The com­pany is grow­ing at a very fast pace with more than 55% of the turnover now com­ing from on­line (trades ini­ti­ated by clients) which was around 31% in FY 15-16. The ab­so­lute on­line turnover over the pe­riod has in­creased by more than 260%.

Reg­u­lar en­gage­ment with cus­tomers also gives the com­pany a dou­ble ad­van­tage – get­ting in­sights into the minds of part­ners as well as hand hold them in their tran­si­tion to­wards dig­i­ti­za­tion, giv­ing the com­fort they need to grow the busi­ness.


Adop­tion of big data and an­a­lyt­ics has com­pletely changed the way Moti­lal Oswal op­er­ates its busi­ness. In terms of prod­uct devel­op­ment, an­a­lyt­ics is the core in an­a­lyz­ing most fre­quent and least tra­versed user jour­neys that help the com­pany in mak­ing de­ci­sions re­lated to prod­uct im­prove­ment. Chaudhry says: “Us­age of an­a­lyt­ics has also helped us in pro­vid­ing per­son­al­ized in­for­ma­tion to our end users when they touch base with us in any form (off­line or on­line) and even cross mar­ket­ing rel­e­vant prod­ucts to them based on their needs and be­hav­ior. More­over, with in­te­gra­tion of an­a­lyt­ics with our mar­ket­ing, we are also able to com­mu­ni­cate with our end users through the most pre­ferred medium at their most pre­ferred time. All these changes have helped us dou­ble our on­line busi­ness in the last 12 months.”

The com­pany has a 200-mem­ber IT team.


Moti­lal Oswal has been con­stantly evolv­ing, not just de­vel­op­ing new prod­ucts, but in em­ploy­ing cut­ting edge means of en­gage­ment. It is al­ready in fairly ad­vanced stages of em­ploy­ing mass en­gage­ment medi­ums and au­toma­tion in this field, the idea be­ing to reach out to the right au­di­ence at the right time with the right agenda.

Says Chaudhry: “We are in a po­si­tion to in­tel­li­gently pro­file any­one the mo­ment he vis­its our web­site till the time he is ac­tive with us. We have de­vel­oped very spe­cific and highly rel­e­vant pa­ram­e­ters to un­der­stand his need/na­ture so that we are able to give him a per­son­al­ized ex­pe­ri­ence. We un­der­stand his most pre­ferred medium of com­mu­ni­ca­tion, trad­ing be­hav­ior/ pref­er­ences, risk ap­petite, lifestyle in­ter­ests and much more.”

All this in­for­ma­tion is then used to pro­vide rel­e­vant of­fer­ings and rec­om­men­da­tions not only at an in­di­vid­ual but at a holis­tic fam­ily level to the cus­tomer, and alert him on any de­vi­a­tion in his in­vest­ment pat­tern or risk level. “Our robo based port­fo­lio re­struc­tur­ing tool picks up the client’s pro­file and gives in­sights on what mod­i­fi­ca­tions a cus­tomer needs to make to his in­vest­ment to achieve better re­turns. Our goal-based in­vest­ing plat­form, TIP, also gives pro­file-based rec­om­men­da­tions which can help clients achieve their longterm goals through wealth cre­ation,” adds Chaudhry.

More­over, the en­tire cus­tomer jour­ney is synced across the com­pany’s plat­forms as well as its off­line chan­nels to en­sure he gets a seam­less ex­pe­ri­ence, thus re­sult­ing in higher cus­tomer sat­is­fac­tion and de­light.


Moti­lal Oswal’s TIP cam­paign was ranked the top trend­ing tweet by Cam­paign In­dia. ‘The Only TIP’ on 24 July 2017 was one of the most talked about topic on Twit­ter. TIP Launch video re­ceived 22 lakh views on Face Book, 18 lakh views on YouTube and 2.58 lakh views on Twit­ter. TIP dig­i­tal cam­paign on other plat­forms gen­er­ated 5.22 crore im­pres­sions and 2.86 lakh clicks, while TIP posts re­ceived over 3.8 lakh en­gage­ment on Face Book and 21,000 en­gage­ments on Twit­ter.

The com­pany’s pres­ence on so­cial me­dia is ex­tremely strong. Says Chaudhry: “Our over­all so­cial me­dia fol­low­ers wit­nessed a 86% yoy growth with more than 284% growth in YouTube au­di­ence. We have been con­sis­tently on No 1 po­si­tion in cross plat­form so­cial en­gage­ment across Face Book/Twit­ter/YouTube with 17.65 lakh en­gage­ments (52% share of to­tal cat­e­gory en­gage­ments). To an­swer all our con­sumer queries, we cre­ated the in­dus­try’s cus­tomer ser­vice chat­bot - MO Ge­nie. This has han­dled over 6.7 lakh queries in the past year and has been awarded the Bank­ing Fron­tiers Fin­noviti 2018 award.”

In on­line in­vest­ing, per­son­al­iza­tion is the key. Chaudhry says the com­pany’s data-based un­der­stand­ing of cus­tomer psy­chol­ogy helped it identify 2 in­vestor psy­ches – long-term in­vestors and short­term traders. The com­pany then cre­ated an In­vestor vs. Trader cam­paign on TV chan­nels like CNBC TV18 along with other chan­nels such as so­cial me­dia as well as on­line ban­ners and cus­tomer email­ers. “This cam­paign iden­ti­fied the dif­fer­ences be­tween traders and in­vestors and the need for sep­a­rate apps for each. This cam­paign also in­cluded a sep­a­rate ini­tia­tive for our Smart Watch app (win­ner of Fin­noviti Award by Bank­ing Fron­tiers Mag­a­zine),” adds Chaudhry.

Arun Chaudhry claims MOSL’s pres­ence in so­cial me­dia is ex­tremely strong and this has brought many ac­co­lades in its stride

Robo Wealth is a 100% robo based cus­tom port­fo­lio mod­el­ing tool

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