Bank accounts, mutual funds, and stocks are just one click away; Mukesh Ambani's company makes things easy..
Reliance Group's JioFinance has rolled out a feature for its users that will make managing their money much easier. Now, there's no need to navigate through separate bank apps, mutual fund platforms, or stock portfolios, as the JioFinance app will house them all in one place. The biggest advantage of this new update is that anyone can understand and track their entire financial life on a single screen.
Unified Financial Dashboard
The first major feature added to the app is the Unified Financial Dashboard. This displays information about JioFinance loans, deposits, and other bank accounts simultaneously. Whether the account is with a small bank or a large national bank, all data is updated in real-time on a single dashboard. This gives users a clear view of their total income, expenses, and savings.
Asset Tracking: A Complete Account of Investments
The second feature is comprehensive asset tracking, which allows linking mutual funds, equities, ETFs, and bank accounts. This system allows users to easily monitor their investments, which funds are generating profits, and where improvements are needed. The company says that fixed deposits and recurring deposits will soon be integrated into this tracking system, allowing for accurate visibility of the user's money in one place.
AI-Based Guidance: Smart Money Management
In addition to these two features, a third, more significant feature is smart, data-driven guidance. It uses artificial intelligence to understand a user's spending, income, and investment patterns and then provides tailored recommendations. This feature is especially useful for those who want to manage their money effectively but struggle to get started. The app advises them on how much to invest, which expenses to limit, and where savings can be increased.
All features in one app: Life made easier
Company CEO Surbhey S. Sharma said that this feature is a major step towards making the financial lives of Indians simpler and more transparent. He believes that in the future, millions of people will be able to better manage their money and become financially stronger through this app.
The app is not only useful for investment tracking, but also for investing in mutual funds, opening demat accounts, and accessing other financial services. JioFinance Platform and Services Limited, a subsidiary of Jio Financial Services, operates this app.
How to use it?
Go to the Track your Finances tab in the JioFinance app. By completing a few simple steps, users can create their own personal financial dashboard. After linking, it becomes easy to view bank accounts, mutual funds, and stocks all in one place.
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