Mirae Asset Mutual Fund and Cybrilla Partner to Streamline Investment via ONDC

Mirae Asset Mutual Fund has reportedly joined the Open Network for Digital Commerce (ONDC), allowing its mutual fund products to be made available through the network.  

This enables investors to access Mirae Asset schemes using applications connected to ONDC. 

Technology Arrangement 

The fund house has signed an agreement with Cybrilla to support transaction processing on ONDC.  

Cybrilla will provide the technology required to carry out mutual fund transactions such as subscriptions, redemptions, switches and Systematic Investment Plans (SIPs). 

Transaction Processing 

Cybrilla will handle the backend systems needed to process transactions on the network. This includes routing transactions, managing settlements and ensuring compliance with applicable rules.  

Investors will place transaction requests through ONDC-enabled applications, while execution will take place through Cybrilla’s systems. 

Access Across Platforms 

Following the integration, Mirae Asset Mutual Fund schemes can be accessed through multiple applications connected to ONDC.  

Investors do not need to depend on one specific distributor or platform. The same products can be discovered and transacted across different ONDC-linked interfaces. 

Digital Payment Options 

The integration supports digital payments, including UPI mandates for SIPs. This allows investors to set up and manage recurring investments electronically.  

One-time purchases, redemptions and switches can also be initiated digitally through the network. 

Mutual Fund Participation 

ONDC said the addition of Mirae Asset Mutual Fund shows increasing participation by asset management companies on the network.  

Mutual funds are being added as part of plans to expand access to financial products through open digital systems. 

About the ONDC Network 

ONDC is a digital commerce initiative led by the Department for Promotion of Industry and Internal Trade (DPIIT) under the Ministry of Commerce.  

The network is designed to be open and interoperable, allowing participants to operate across platforms instead of being tied to a single digital channel. 

Read More: Department of Posts Marks First ONDC Delivery Success! 

Conclusion 

The partnership brings Mirae Asset Mutual Fund onto the ONDC network, with Cybrilla managing transaction infrastructure. The integration adds to the growing list of mutual fund houses using ONDC for product distribution. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.   
 
Mutual Fund Investments are subject to market risks, read all the related documents carefully before investing.