Aditya Birla expands in financial planning
Aditya Birla Money, a part of the Aditya Birla Group, is betting big on financial planning space. The company has come up with an online financial planning service ‘MyUniverse’ which allows customers to track their income, expenditure and savings.business Updated: Jun 16, 2012 00:56 IST
Aditya Birla Money, a part of the Aditya Birla Group, is betting big on financial planning space. The company has come up with an online financial planning service ‘MyUniverse’ which allows customers to track their income, expenditure and savings.
Apart from this, the platform also provides advice across all investment categories and asset classes and facility to do the transactions such as buying or selling investments or paying of bills. All these facilities would be accessed from a single portal, which the company claims is one of its kinds in the world."Currently, there are products which are offering financial services on separate platform but MyUniverse’ is the only product which has end to end solution for financial management on a single platform," said Sudhakar Ramasubramanian, managing director, Aditya Birla Money. "MyUniverse aggregates all customers’ bank accounts, investments including assets such as gold and real estate, credit cards, loans, incomes, expenses, in a highly secure environment which gives the customer a single window view into their financial universe," said Ramasubramanian.
There are currently 100 million internet users in the county and the company is targeting upwardly mobile individual between the age group of 25 and 45 years.
The company feels that the platform would bring financial discipline the country. “This kind of technology based game changers ensures that right financial planning and advice goes to people,” said Ramasubramanian.
As of now the company, has about 7,000 members and expects to target the internet users.
According to the company, the platform would give a cost efficient financial management tool for investors, including those with moderate income bracket. It would be difficult to provide a separate advice by financial planners to people in lower income bracket, the company says.
But with the online platform people from all income groups and different demography will be able to do financial planning.