DIY feature with advanced MF performance insights and tools, with premium User Experience
Mumbai : 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 (like 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 & 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; how does a customer choose? Ace feature
simplifies investment by providing relevant
details to help select
top performing funds.
·
What are the companies
invested in each MF? What are the sectors your MF has invested in? Simply click to know.
·
“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
Mr. 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.”
IDFC FIRST Bank’s mobile banking
app is the highest-rated Indian banking app on Play Store with a rating of 4.9
and is ranked #1 by Forrester (The Forrester Digital Experience Review™: Indian
Mobile Banking Apps, Q3 2024).
Click here to Download
the App
About IDFC FIRST Bank
The 7 Core Principles of IDFC FIRST
Bank
IDFC
FIRST Bank was created in December 2018 through the merger of infrastructure
finance giant IDFC Bank and retail finance
& MSME specialist Capital First. The following are the 7 core Principles of the Bank:
1.
Vision: Building a world-class Bank in India, focused on Ethical,
Digital, and Social Good Banking.
2.
Universal Bank: IDFC FIRST Bank is a Universal Bank, offering a
comprehensive range of services, including Retail, MSME, Rural, Startups,
Corporate Banking, Cash Management, Wealth Management, Deposits, Government
Banking, Working Capital, Trade Finance, and Treasury solutions.
3.
Ethical Banking: The Bank adheres to a
"Near and Dear" test, ensuring its products are so customer-friendly that employees can confidently recommend them to loved ones. The Bank
is committed to doing right by customers even when no one is watching and
believes that income earned unethically is not worth earning.
So,
the Bank has simplified descriptions, calculations, and legal jargon to avoid
confusing customers. It offers
“ZERO FEE Banking” on all savings account
services, including SMS alerts, IMPS, RTGS, NEFT, cash deposits, non-home
branch access, ATM withdrawals, cheque books,
Demand Drafts, Pay Orders, duplicate
statements, and other commonly charged
services. It is the first and only bank in India to do
so.
4.
Customer Friendly Banking:
IDFC FIRST Bank credits
interest monthly on savings accounts. For credit cards, it offers lifetime-free cards with no minimum
spend conditions, non-expiring reward points,
zero interest on ATM cash withdrawals, and dynamic low APR. Any
applicable fees are transparent and clearly explained.
5.
Digital Banking: The Bank's modern technology stack delivers high-quality
services across mobile, branch, internet
banking, call centers,
and relationship managers.
Its advanced mobile banking app, featuring 250 functionalities, is rated 4.9 on Google
Playstore. Renowned global rating agency Forrester has ranked
it the best in India and among the top 20 worldwide for two consecutive years.
6.
Social Good Banking: The Bank focuses on financial inclusion while ensuring
high asset quality. It has financed over 40
million customers, including 16 million lifestyle improvement loans, 15 million loans to 4.3 million women entrepreneurs, 6.5 million vehicle
loans, 1 million sanitation loans, 1 million
livelihood loans, 300,000 SME loans, and 100,000 home loans.
7.
ESG Goals: The Bank holds high ESG scores, reflecting its commitment
to financial inclusion and social responsibility.
The
Bank believes creating a new-age, ethical, customer-friendly, and world-class
Bank for India is a privilege for its stakeholders.