DSP Asset Managers has partnered with Cybrilla to become one of the first mutual fund companies to go live on the Open Network for Digital Commerce (ONDC). By joining ONDC Network, DSP MF is opening up new opportunities as the network’s open design lets more distributors, including local entrepreneurs and fintech startups—offer mutual funds to a wider audience.

ONDC is an initiative of the Ministry of Commerce and Industry, Government of India to create a facilitative model that revolutionizes digital commerce, giving greater thrust to penetration of retail e-commerce in India, according to a press release by the fund house.

ONDC Network’s financial services initiative focuses on helping people who have been unserved / underserved by the traditional financial system. It provides easier access to credit for individuals and small businesses, especially in areas where banking services are limited. It also offers simple investment options for first-time investors who want to start small and grow their savings steadily, the release added.