IDFC FIRST Bank has unveiled Ace feature on its premium Mobile Banking app, that provides relevant insights and tools to allow investors make an informed mutual fund investment decision. This feature aims to empower an individual with ‘do-it-yourself’ investing, digitally. The ACE feature on the IDFC FIRST Bank app provides rich and useful details on more than 2500 mutual funds in India. Investors can browse through various fund categories, such as equity, debt, tax-saving, hybrid, and index funds, and choose the right need-based fund to build a diversified portfolio. IDFC FIRST Bank customers can also access detailed information – like historical fund performance (1Y, 3Y and 5Y), holding patterns (by sectors, companies, and market cap), and expert ratings on each fund (Morningstar Rating). This feature provides premium experience to the investor by combining information about the fund available publicly, insights and easy investing customer journey. At a glance:

• There are over 2,500 mutual funds in India. Ace feature simplifies investment by providing relevant details to help select top-performing funds
• “Senior citizen assistance special” feature that automatically selects ‘Conservative’ funds with lower risks based on the typical risk appetite for senior citizens, ensuring enhanced safety while investing. Senior citizens can select other funds by choice
• Goal-based MF investing for key life stages and events like retirement planning, wedding, etc. by access to investing tools
• Customers can now link their external mutual funds through eCAS (electronic consolidated account statement) service for mutual funds to get a consolidated view of their MF holdings without switching multiple apps

Ashish Anchaliya, chief product officer, digital banking, IDFC FIRST Bank said, “We know that investing can feel overwhelming, and making the right investment can be a challenge, especially with over 2,500 mutual funds to choose from. That’s why we created the Ace feature with tools and insights that provides relevant information at a single place. With just a few taps, you can select funds that you want to invest in with confidence and ease.”

Re-disseminated by The Asian Banker