MoneyCalc – tech platform to digitise three million independent brokers

MoneyCalc involved in providing solutions in the field of digital wealth management and necessary financial advice is the first of its kind who introduced a technology broker platform aimed at digitizing independent brokers in India.

MoneyCalc carries out its business by providing an integrated technology suite which covers Digital KYC, online investment, planning, customer relationship management, educational content, etc, now the platform is involved in, the assisting independent brokers to personalize their business and provide their clients with immediate financial checks, full paperless KYC, instant investment through mutual funds, portfolio insights and research customer records, track goals and more.

The need for such a business structure came when there is a huge rise in the market base in the Level II & III cities. Another aspect of it is the rise of “middle-class people in India either the middle-income bracket which is estimated to rise to 475 million in 2030, according to a report by Ernst & Young. With the rise of the income level among this target middle income group more and more they start depending on technology and that leads to higher aspirations and a better standard of living, the world around demands better innovations in financial services which marks the beginning of financial and digital integration and that brings out innovative solutions and it creates a great potential for expansion.

MoneyCalc is the brainchild of True North Labs, a recognized start-up in emerging India and Maharashtra Fintech Hub. Founded by Dhruv Arora and Apurva Parekh, True North Labs Inc. promotes innovation in advanced processes, technologies, and data science to create smart applications for the financial technology ecosystem. MoneyCalc can be said as a product of experience and expertise with founders having a core subject knowledge. Both of us were early believers of technology in financial services and were convinced about its potential to transform the delivery of financial services. With the focus on Middle India, we set out to create an integrated platform that could transform the way advisors help their clients,” said Apurva.
MoneyCalc boasts of its being paperless and branchless and all of it is digitally enabled. It has over 850 partners across 150 cities clocking 500,000 client transactions and mutual funds AUM worth Rs 200 crore, it also facilitates advisors to serve their clients even when they are not together at the table using robo-advisor platform for clients in a day’s time.
To empower financial inclusion India needs a minimum of 10 lakh modern advisors who can create better financial outcomes for the largely unserved Middle India. MoneyCalc was created to efficiently combine human advice with technology to help every household. Our mission is to create a supply pool of these advisors, energize them with advanced technology and connect them with consumers to deliver sophisticated wealth management experience. We have always believed in the power of micro-entrepreneurs, and by working closely with them while building the product, we’ve removed a lot of operational duplication and helped them save cost and time,” said Dhruv.

Going forward with their plan MoneyCalc has partnered with educational institutions in order to get the latest perspectives in various domains. They aspire to bring Tech in all domains and it forms the biggest component of their cost structure,” said Dhruv