DSP Asset Managers Pioneers with ONDC for Wealth Access in India's Smaller Cities
DSP Asset Managers, in collaboration with Cybrilla, has become one of the first mutual fund companies to join the Open Network for Digital Commerce (ONDC). This move is set to transform how financial products reach people across India, particularly in smaller cities with limited investment options.
ONDC, an initiative by the Ministry of Commerce and Industry, aims to boost retail e-commerce penetration in India. By integrating with ONDC, DSP Asset Managers can now reach customers in smaller cities, helping them start building wealth with confidence. The decentralized design of the ONDC Network enables DSP and its partners to create new investment products like daily SIPs or goal-based micro-investments.
The partnership with Cybrilla is viewed as a structural shift by Anchal Jajodia, Co-founder of Cybrilla. It enables low-cost, goal-based investments for first-time investors across India. The integration also lowers costs for DSP by covering KYC and payment gateway fees, making it easier for new distributors to join and serve customers. Vibhor Jain, Acting CEO and COO at ONDC, sees this as a shift from centralized distribution to decentralized opportunity, expanding access to financial products at scale.
The integration of DSP Asset Managers with ONDC is expected to benefit cities across India. It aims to provide inclusive access to financial products, including daily SIPs and goal-based micro-investments, thereby benefiting both small-town shopkeepers and digital-first savers in metro areas. By joining the ONDC Network, DSP is opening up new opportunities for distributors, including local entrepreneurs and fintech startups, to offer mutual funds to a wider audience. ONDC's financial services initiative focuses on providing easier access to credit and simple investment options for unserved or underserved individuals and small businesses, especially in areas with limited banking services.
