FUNDSINDIA.COM LAUNCHES GAMIFICATION IN MUTUAL FUND INVESTING

An innovative, engaging tool to encourage good investment choices 
 by Shrutee K/DNS
New Delhi, November 14, 2016: FundsIndia.com, India’s first online-only investment platform has launched a first-of-its-kind innovative tool - ‘Gamification in Mutual Fund Investing’ for its investors. This feature will encourage good investing behavior and ensure that investors stay on the right path to investing successfully.   
Gamification is a concept of applying game mechanics and game design techniques to engage and motivate people to achieve their investment goals. FundsIndia.com’s approach towards gamification is to engage with existing investors and provide a seamless blend of fun and real investing.
‘At FundsIndia, we always aim to provide the best of technology and services to our customers. Engaging with our investors through this powerful tool will help us explore behavioral finance and further help us guide our investors smartly’, said Srikanth Meenakshi, Co-Founder and COO, FundsIndia.com.
There has been a high growth of gamification solutions in various industry verticals. However in the field of investing, FundsIndia is a pioneer and intends to leverage this tool to engage with its customers better and help them understand the benefits of smart investing. ‘Gamification is used in various facets of our life. The availability of smart digital tools helps new investors deal with investments in a seamless and scientific manner. Our goal is to make financial markets accessible for everyone and encourage good investment behaviour among individuals in a healthy and competitive manner’, said Nilakantan Rajaraman, Data Scientist, FundsIndia.com.
What Gamification is and how it works
Keeping with its mission of creating and providing the friendliest investment platform to their customers, FundsIndia.com has developed this fun new feature - ‘Gamification’. It is a feature that ranks investors among their peers, so that they know where they stand among other investors similar to them. It is like an instant financial health check up for them. It’s called gamification because it introduces game thinking and game elements into investing. It encourages good investment choices and discourages bad ones. Investors will be able to see this on their dashboard in the form of their ‘Peer Ranking’ (as shown in the ‘What’s your Peer Rank?’ image).
 
It’s the percentile rank that tells investors where they stand among their peers. Apart from the score, the exciting new feature allows investors to earn badges. Positive investing behavior, which FundsIndia believes will make people better investors, will earn investors badges, recognizing their efforts toward disciplined investing. Here’s what their trophy case will look like.
 
Frequent redemptions, non-systematic and sporadic investment practices that suggest investors are trying to time the market instead of being disciplined, are some of factors that may result in scores trending down. FundsIndia.com combines human expertise and technology to provide value added experiences for its investors. 
About FundsIndia: FundsIndia, an initiative of Wealth India Financial Services Pvt. Ltd., is India’s first online-only investment website. A free investment platform, it offers an array of financial products like mutual funds, equities, and deposits. Besides this, FundsIndia also offers value-added services like free financial advisory services, flexible SIPs, trigger-based investing, access to India’s most comprehensive automated advisory service – Money Mitr, and more. Learn more at www.fundsindia.com

Comments

  1. Hey, thanks for the information. your posts are informative and useful. I am regularly following your posts.
    Mid-Cap and Small-Cap,

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