With this change in the name comes in some significant changes in the services provided by the app as well. The team’s vision is to create a mobile-first home for all personal finance needs of Indians. “We believe that the financial journey of retail consumers in India is completely broken. We started fixing it by enabling users to understand and manage their money in a way far better than other alternatives. As a natural extension, we will now help consumers grow their money by investing in mutual funds seamlessly,” said Mukesh Kalra, COO ET MONEY.
Smartspends was introduced in July, 2015 with an objective to help its users get smarter with how they spend their money in a fun and easy manner. It included sections like Bill Calendar (to stay updated on all the bills paid, due or delayed), Card Suggest (to give suggestion on the best card to use for a purchase), Offers and Fun Facts. (Also read: This Is How You Can Quickly Grow Traffic On Pinterest)
The new version of the app includes the feature of Mutual Funds Transactions which will help new investors to make their discovery, transaction & management cycle simple & seamless. “Everything that you see on ET MONEY is backed by data and is completely transparent”, added Kalra. Initially, the company has tied up with 10 mutual fund houses.
To make you look at money management in a refreshing light here is an insight into the newly added features of the app:
1. Discover Best Funds through Auto- Created Themes
The app helps its consumers understand and recognize the best performing funds through auto-created themes. The themes are created after analyzing more than 5000 mutual funds over the last 5-10 years and are based on specific goals like tax saving. Also, to help the app users make smart investing decisions, the app offers a no-jargon report card which educates them about the funds with the best returns and the risks involved.
2. Quick Paperless Transactions
Unlike the offline mutual fund transactions, the app allows you to have completely paperless transactions. Once you know where you want to invest, it takes less than 2 minutes to proceed with the investment procedure whether you are KYC registered or not. Similar to what you see on the e-commerce websites for the delivery details, ET MONEY also gives you complete visibility about the stage of your investment. (Also read:5 Apps That Drain Android Battery)
3. Continuous Portfolio Management And Recommendations
Another unique feature of the app includes continuous portfolio management post investment. The app gives you data-led insights into your investment so that you can take timely corrective measures if required. It is similar to having personal finance experts at your service all day long. You can also look into the funds you have not invested in through this app.