JioFinance App Launches New Feature To Enable Financial Tracking Through Unified Dashboard
JioFinance's new feature is aimed at helping users align their day-to-day spending patterns with their long-term financial goals.
Jio Financial Services has rolled out new updates on its financial services platform, the JioFinance app, allowing users to track their multiple financial transactions across different accounts in one place. The app, based on users' consent, will now consolidate and analyse financial information shared by users to deliver personalised insights and recommendations.
“The feature allows users to seamlessly link, view and analyse all their bank accounts, mutual funds and stock portfolios in one single place, without the hassle of viewing multiple apps,” the company announced in an exchange filing on Monday.
The feature is aimed at helping users align their day-to-day spending patterns with their long-term financial goals. With the help of advanced analytics and smart insights, the users are likely to benefit from a simplified decision-making process, it added.
The new features include three main components: ‘Unified Financial Dashboard’, ‘Comprehensive Asset Tracking’ and ‘Smart, Data-Driven Guidance’. According to the Reliance Group’s financial services arm, users will be able to benefit from a ‘unified financial dashboard’, bringing all their financial relationships into one place.
“From loans and deposits held within JioFinance to linked external accounts and investments — providing a consolidated, real-time view of a user’s finances,” the company said.
ALSO READ
RIL Q2 Results: Profit Falls 33% QoQ; Reliance Retail, O2C, Jio Businesses Show Steady Growth
Further, the comprehensive asset tracking tool will enable users to link and track Bank Accounts (CASA) for real-time balances and spending insights. It will also provide insights on Mutual Funds, Equities and ETFs with portfolio and performance analysis.
JioFinance also plans to add Fixed and Recurring Deposits support on this system soon. With the smart guidance feature, the app will go “beyond simple tracking with AI-powered insights and nudges, offering personalised recommendations to help users make better financial decisions.”
“By bringing a person’s financial life together on a unified, secure and insightful platform, we are empowering users to understand and manage their money effortlessly. We are committed to continuously enhancing the money management and optimising capabilities of the JioFinance app…,” Surbhe S Sharma, Chief Executive Officer, Jio Finance Platform and Service Ltd., commented on the feature's launch.
Jio Finance Platform and Service, a subsidiary of Jio Financial Services Ltd., is responsible for managing the JioFinance app. To use the latest feature on their smartphones, users can download the JioFinance app. On the home screen, they will need to click the ‘Track your Finances’ tab, which will lead them to set up their personalised financial dashboard.
