Edelweiss Launches Personal Finance App ‘WealthPack’

By 121 News

Chandigarh 12^th July:- Edelweiss Group, India's leading diversified financial services group, recently launched an android-based personal finance managementApp, called WealthPack. The App aggregates information related to one's income and expenses from existing text messages (SMS) on one's phone, helping retail customers get a better grip on their personal finances. With a

wide coverage of 50+banks and credit card providers, the App provides a unified view of the user's finances, and helps the user better understand his and her spending patterns by automatically bucketing them into one of multiple categories available.

At Edelweiss, the customer is at the heart of all that is done and hence the realization that customers need a product or solution, which helps them get a stronger hold on their finances. With that in mind, Edelweiss decided to launch a product, which will help customers understand their finances better and will help them save efficiently, thereby helping them sow the seeds for long-term wealth creation. Powered by sophisticated algorithms, the App has one of the best transaction categorization systems amongst its peers, which gives the user a holistic view of where his and her money is going, in real-time.

Talking about the App Rahul Jain, Head, Personal Wealth Advisory said that almost 50%of our customers who we surveyed said that they wanted a better grip on their personal finances. We saw this as an opportunity, as very few financial services groups are addressing this problem. WealthPack helps the user significantly, by helping him understands what he is doing with his money.

Riyaz Ladiwala, EVP, Digital Transformation said that the App runs on powerful algorithms, which automate tracking and categorization of transactions, thereby reducing the work load on the user. During our beta launch, we have had an overwhelming response from users and we have now launched the App for everyone. A better understanding of personal finances empowers the user to make financially prudent decisions for the future.