Smartspends, the Times Internet backed personal finance app has rebranded itself into ETMONEY and has extended its services to Mutual Fund transactions.
The change of brand name is in line with the team’s vision to create a mobile first home for all personal finance needs of Indians. More importantly, branding it as ETMONEY brings credibility, familiarity and trust of ‘ET’ Brand.
Mr. Mukesh Kalra, COO, ETMONEY, commented, “We believe that the financial journey of retail consumers in India is completely broken. We started fixing it by enabling users to understand and manage their money in a way far better than other alternatives. As a natural extension, we will now help consumers grow their money by investing in mutual funds seamlessly.”
The new comprehensive investing solution is built grounds up for new investors to make their discovery, transaction & management cycle simple & seamless.
Discovery of best funds – Easy to understand report cards and themes
For starters, ETMONEY makes it easy to find the best performing funds through auto-created themes. These themes are based on specific goals (for example tax saving) & are created by analyzing performance of more than 5,000+ mutual funds over the last 5-10years. With the view to help new investors understand what they are investing in, the app also offers no-jargon report card for each fund which clearly show the goodness of the fund in terms of returns and risk. This gives the much needed confidence to the investors while making investing decisions.
Actual transaction – Completely Paperless, takes less than 2min whether you are KYC or Not
Once you have identified the fund to invest in, the process of investing takes less than 2 min, whether you are KYC verified or not (As per government regulations, to invest in mutual funds, the consumer has to be KYC verified). The big differentiator here is that the whole process of on-boarding is completely paperless. After the one-time setup, it takes less than 30sec to invest in any fund. The app also gives you complete visibility about the stage your investment, very similar to how you see delivery details on ecommerce sites. To start with, the company has tied up with top 10 mutual fund houses and enables you to invest in more than 5,000+ funds.
Post Transaction – Unique data-led portfolio management & recommendations
Post investment, another unique feature of the app is its continuous Portfolio Management. In addition to giving consolidated investment view of your investments done through the app, it also lets you track the ones you have not invested through the app. Next, it gives data-led insights into your portfolio to help you take corrective actions. Its smart analytics system combines user’s spend pattern, stock market movements & investing patterns to suggest investment options unlike anything available in the market. Its as good as having your own team of personal finance experts working 24/7 towards improving your performance, for free.
“Having a mobile & data first approach helps us provide a more seamless, unbiased experience. Everything that you see on ETMONEY is backed by data and is completely transparent”, Mr. Kalra said.
The new investing solution is an addition to the automated expense and bill management features already provided on the app. Currently available only on Android, the app was recently featured by Google as a top personal finance app and is used by more than 8 Lakh users.
Image Source: ShutterStock
The change of brand name is in line with the team’s vision to create a mobile first home for all personal finance needs of Indians. More importantly, branding it as ETMONEY brings credibility, familiarity and trust of ‘ET’ Brand.
Mr. Mukesh Kalra, COO, ETMONEY, commented, “We believe that the financial journey of retail consumers in India is completely broken. We started fixing it by enabling users to understand and manage their money in a way far better than other alternatives. As a natural extension, we will now help consumers grow their money by investing in mutual funds seamlessly.”
The new comprehensive investing solution is built grounds up for new investors to make their discovery, transaction & management cycle simple & seamless.
Discovery of best funds – Easy to understand report cards and themes
For starters, ETMONEY makes it easy to find the best performing funds through auto-created themes. These themes are based on specific goals (for example tax saving) & are created by analyzing performance of more than 5,000+ mutual funds over the last 5-10years. With the view to help new investors understand what they are investing in, the app also offers no-jargon report card for each fund which clearly show the goodness of the fund in terms of returns and risk. This gives the much needed confidence to the investors while making investing decisions.
Actual transaction – Completely Paperless, takes less than 2min whether you are KYC or Not
Once you have identified the fund to invest in, the process of investing takes less than 2 min, whether you are KYC verified or not (As per government regulations, to invest in mutual funds, the consumer has to be KYC verified). The big differentiator here is that the whole process of on-boarding is completely paperless. After the one-time setup, it takes less than 30sec to invest in any fund. The app also gives you complete visibility about the stage your investment, very similar to how you see delivery details on ecommerce sites. To start with, the company has tied up with top 10 mutual fund houses and enables you to invest in more than 5,000+ funds.
Post Transaction – Unique data-led portfolio management & recommendations
Post investment, another unique feature of the app is its continuous Portfolio Management. In addition to giving consolidated investment view of your investments done through the app, it also lets you track the ones you have not invested through the app. Next, it gives data-led insights into your portfolio to help you take corrective actions. Its smart analytics system combines user’s spend pattern, stock market movements & investing patterns to suggest investment options unlike anything available in the market. Its as good as having your own team of personal finance experts working 24/7 towards improving your performance, for free.
“Having a mobile & data first approach helps us provide a more seamless, unbiased experience. Everything that you see on ETMONEY is backed by data and is completely transparent”, Mr. Kalra said.
The new investing solution is an addition to the automated expense and bill management features already provided on the app. Currently available only on Android, the app was recently featured by Google as a top personal finance app and is used by more than 8 Lakh users.
Image Source: ShutterStock
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