Two, it helps me take stock of how fast the organization is moving to serve customers. As Peter Drucker says, the primary purpose of business is to serve customers.

Groww is slowly evolving into a full-stack financial services company. And like a healthy company, P&Ls, balance sheets, and cash flow will be very important.

One of our goals is to set an example of how customer focus and shipping products that customers want can become the bedrock of a healthy business. The story is being played out.

Now coming to updates.

Being a financial services company, a lot of our engineering effort goes into building for compliance and regulatory changes that come as circulars.

Sometimes, the effort is as high as 50% of our capacity. Some people think of it as a cost of compliance.

However, we have realized that most circulars come for customer protection.

And that is aligned with our business philosophy. So instead of looking at it as cost, we group these features into customer experience and transparency.

In recent months, we built:

A smooth lending process according to new digital lending guidelines.
Nominee declaration for old mutual fund folios (if you remember, features related to the nominee have been a constant mention in my last three updates. It is important - please update your nominees.)

-Launching soon - purchase OTP will be required for buying mutual funds from April 1, 2023

Another critical theme in our product building is transparency for customers.

Here is what we shipped:

Showing all the charges on the order card while placing orders
Showing the required margin for buying stocks
Showing max quantity of stocks for orders
Showing required margins when selling options

India launched Account Aggregator (AA) framework in Sept 2021. AA will make sharing financial data very easy with the consent of customers.

We started using this framework for our onboarding, and now customers can share their six months' bank statements without the hassles.

As I have said before, we are really grateful to the progressive thinking of Indian regulators in making customers' life so easy.

From our initial days, we had decided that Groww would get only in regulated businesses.

Accordingly, we worked on getting the licenses and then starting the businesses.

In the same spirit, we started commencing business as an NBFC last month. One small step into another large territory.

We worked further on trading and investing experience:

Apply IPO under the HNI category to order upto 5Lac (regular category limit is 2Lac)
Separate tabs for positions and orders for stocks and derivatives
New Groww Terminal with index cards, option chain, and watchlist access live on Website charts
Add, modify, and delete multiple indicators on Android charts
Pay for your mutual funds through your existing mandates

Some small and large changes on how you get customer support on Groww:

-We introduced the “Call me back” feature a few months back so that you don't have to wait on the phone. Now you will get exact tracking of how much time before customer supports call you.
-For new users on the platform, we are showing a curated list of questions in our support section, that will help them learn and understand the platform better.
-For an easier understanding of concepts and the platform for users, we have added bite-size videos for 100+ FAQs in the help section.

Our customer support team is always happy to solve your problems. Just go to the Customer Support section on Groww.

We continue visiting cities to meet customers under our AIKI program - very soon we will be completing 100 cities.

We recently made a trip to UP to understand our customers better, and the most surprising insight we got was that a lot of people do not know the difference between direct mutual funds and regular mutual funds.

We also plan to visit other states in the coming months.

The amount of misinformation that exists in our country is very huge and all of us will have to work hard to make people educated on important topics in finance. And we will have to do this at the grassroots level.

We recently conducted the fifth edition of Groww Thrive and like the past four, thanks to our customers, it was a great success.

In this edition, the focus was on students with topics covering skills that are not taught in colleges. The recordings will be available soon.

That's it for now. See you soon.

Lalit Keshre
CEO & Co-founder, Groww