Kolkata-based MFD onboards up to 2,000 clients a month
Finomatic Fintech Services is a Kolkata-based mutual fund distributor with 60,000+ clients. It describes itself as India’s 3rd largest MF transaction executor. After automating AUM reconciliation and moving client onboarding online with Investwell Mint, the firm reported upto 2,000 new clients a month and 50% year-on-year growth in online transactions.
Last updated: 4th Nov 2026
Book a Demo- Firm
- Finomatic Fintech Services Pvt Ltd
- Founder
- Hitesh Jain
- City
- Kolkata, West Bengal
- Clients
- 60,000+
- Features used
- Automated AUM reconciliation; CAS import via OTP; investor self-signup; AUM Growth Report
The challenge: growing past 40,000 clients on manual processes
For a mutual fund distributor of Finomatic's size, day-to-day operations became the limit on growth. Reconciling AUM across a high volume of records, handling heavy paperwork and onboarding new clients smoothly all got harder as the firm grew.
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AUM reconciliation
Matching AUM across tens of thousands of clients took heavy manual effort.
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Paperwork
Every new client meant forms and documents to collect and process.
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Onboarding
Bringing in new clients quickly and smoothly was hard at this volume.
How Finomatic uses Investwell Mint
Automated AUM reconciliation
Investwell Mint automates AUM reconciliation, so the team no longer matches high volumes of records by hand. Across the platform, this MFD software keeps 99.91% data accuracy across 4 crore+ folios.
CAS import via OTP
When a client joins, their existing portfolio comes in through a fast CAS import verified by OTP. The team gets instant access to a consolidated view of the client’s investments across multiple investment channels.
Investor self-signup that feels like a consumer app
Investors sign themselves up online through a smooth, simple flow that feels like the modern consumer apps they already use. Because signing up is easy, investors are more willing to do it, and the firm handles far less paperwork.
AUM Growth Report: where growth really comes from
The AUM Growth Report shows whether AUM grew from new investments or from market-driven changes in existing investments, over different time periods. Finomatic breaks the report down by:
- Relationship manager
- Sub-broker
- Family head
- Family members
This helps the firm track each sub-broker’s performance and incentivise its sub-brokers effectively.
Digital from onboarding to support
Finomatic runs a digital-first approach from onboarding to client support, with 1000+ sub-brokers actively using the platform.
The Results
These figures were reported by Finomatic.
- Clients onboarded
- Up to 2,000 a month (1,600 to 2,000)
- Online transactions
- 50% growth year on year
- Transactions
- 5 lakh in 2023; 7.5 lakh projected for 2024
- Sub-brokers
- 1000+ actively using the platform
Why the numbers moved: with reconciliation automated and onboarding moved online, paperwork stopped holding the firm back. Finomatic now works 100% digitally, so its advisors can focus on building strong client relationships.
“Investwell didn’t just meet our needs. They fueled our growth from the ground up. Their ever-evolving product and personalised support make a real difference, helping us stay ahead.”
Hitesh Jain
Founder, Finomatic
Who this story suits
- Mutual fund distributors with tens of thousands of clients who still onboard on paper.
- National distributors (NDs) and other firms with large sub-broker networks that want to track and reward sub-broker performance.
- Teams that reconcile AUM by hand and want it automated.
See everything Investwell Mint covers as mutual fund distributor software.