IDFC FIRST Bank said it has incorporated an “Ace” feature on its mobile banking app that will provide details on more than 2500 mutual funds. This is aimed at promoting ‘do-it-yourself’ investing among its customers.
The private sector bank’s customers 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, per the Bank’s statement.
They 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).
Ashish Anchaliya, Chief Product Officer, Digital Banking, said “… 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.”
