FAQs

What is Savvy’s core philosophy?

We believe that in the near future, nearly all companies (financial as well as non-financial) will derive significant revenue from offering embedded financial services to their customers. While embedded lending has seen multiple innovative models, embedded savings has not witnessed any disruptions.

 Savvy was conceptualized, designed and launched in 2020 to offer seamless, digital journeys for users to save for their goals, through its business partners that include financial institutions as well as brand partners. 

How can Savvy help an Asset Management Company?

Through our extensive experience of working with Asset Management Companies (AMCs) and understanding their needs, we believe that Savvy can create  tremendous value by building a technology platform, enabling transactions and building for any innovative use-case that AMCs, their partners such as Distributors or Fintechs, or any other companies want to build. Savvy helps Asset Management Companies (AMCs) to:
- Acquire new customers
- Engage better with customers
- Enable and support partnerships
- Lead innovation

What are the benefits of SNBL for the end consumer? 

There are four partnership models possible between AMCs and Savvy: 

a. SavvyPay: A unique, fully digital “Save Now, Buy Later” solution.
b. Digital enhancement: A white-labeled app or digital modules on offer.
c. Fintech solutions: An easy, quick integration solution for Fintechs to offer funds.
d. Distributor solutions
: Digital tools to help distributors grow their business.

How does Savvy enable Embedded Savings for customers with SavvyPay?

Savvy works with AMCs and Brand Partners, helping them unlock value for their customers, by embedding savings, in an easy and quick way. SavvyPay is a first-of-its-kind “Save and Pay” solution in India for AMCs and their customers.  It is an embedded, fully digital “Save Now, Buy Later” (SNBL) journey within the AMC’s and the Brand Partner’s digital assets. This is operationalized as:

- The AMC’s existing customers save in mutual funds for a specific goal (e.g., Gold, Travel, etc.) and at goal completion, SavvyPay, via the AMC’s website/app, powers a digital fulfillment mechanism with Brand Partners in various categories (e.g., Gold, Travel, Education, Electronics, etc.), using redirection to a non-AMC landing page. 
-
The Brand Partner’s customers see an SNBL option on their website/app, wherein the customer can save in the AMC’s mutual funds to buy the Brand’s product at a later date.  

How else can Savvy help to enhance the digital capabilities of the AMC?

Savvy can completely revamp the digital app or create a goal-based savings app for an AMC by offering a white-labeled solution. AMCs not wishing to opt for a full app go for digital modules of their choice, such as Onboarding and KYC, Risk Profiling, Fund Selection, Rewards and Referrals, etc. Savvy also has a state-of-the-art, easily integrated solution suite for AMC’s distributors and fintechs that wish to partner with the AMCs. 

How can Savvy help Fintechs who wish to offer mutual funds to their customers?

There are various Fintechs that wish to offer digital savings use-cases to their customers. These customers are offered a choice of savings containers – including mutual funds. But, individual integration between Fintechs and AMCs is cumbersome and time-consuming for both the parties.

Savvy can help any fintech that wants to offer savings products to its customers. A lot of Fintechs have a customer base that is not fully engaged, and the Fintech finds it difficult to offer them embedded savings products due to reasons such as resource constraints, lack of expertise in non-core areas, compliance and security concerns.

Savvy can help them create an engaging savings journey for their customers quickly. Savvy has developed a technology platform for Fintechs, including easy-to-integrate API-suites and SDK modules, to enable these partnerships in a matter of days. 

Fintech companies could be in any industry, such as Market Research, Cab Services, Goal-based Savings, Neo-banks, Food Delivery, etc. 

What solutions does Savvy offer for mutual fund distributors?

With low penetration of mutual funds in India, distributors are always on the lookout for new-age services and tools to acquire new customers digitally and to grow their AUM using digital campaigns. 

Savvy provides a suite of digital tools for mutual fund distributors, including digital links for specific funds using multiple communication channels (Email, Whatsapp, SMS, etc.), marketing campaign artefacts, social media templates, and portfolio analysis capabilities.

What is ‘Save Now, Buy Later’ or ‘SNBL’?

Today, the way consumers are paying for planned, high-value purchases is changing. Especially post-pandemic, consumers have become more value-seeking, are conscious about their finances, do not want the financial anxiety that comes with loans and credit cards, and want friendlier payment terms. 

‘Save Now, Buy Later’ or ‘SNBL’ is a very convenient payment option that can address the above needs of the consumer and for Brand Partners. 

SNBL works best with planned, high-value purchases such as Education, Gold/Jewelry, Travel, Electronics, Home Renovation, etc. 

Which AMCs has Savvy partnered with?

As of now, Savvy has signed up as an Innovation Partner, with leading AMCs such as ICICI Prudential, DSP and Motilal Oswal. 

What are the advantages of working with Savvy?

Firstly, all our solutions are built outside the AMC’s internal infrastructure, which means the solution can be deployed in quick-time at a much lower cost. 

We offer a completely managed service, requiring no work from the AMC’s end, including documentation. 

Also, Savvy has the right mix of team members, ranging from industry veterans to business leaders to new-age technology, UI/UX and service champions. 

How will Savvy support its partners on service and operational support?

A dedicated service and operations team at Savvy will be available at all times to address the queries of our partners. Additionally, Savvy will also train the partner’s service and operations staff on how Savvy works, so that any customer queries can be resolved immediately. 

Tell us something about Savvy’s team

Savvy consists of post-graduates from leading institutes such as IIM, Brown University, Jamnalal Bajaj and Pune University. The professional experience of the team comprises ex-CEOs and COOS from multinational banks and leading private banks, the World Bank, Fintech firms, etc. On the other hand, it also includes a big pool of millennial disruptors who challenge and help in building a product that resonates with current times