NewsVoir
Gurgaon (Haryana) [India], March 18: Paisabazaar, India's leading marketplace for consumer credit and free credit score platform, today announced the launch of PBMoney - a personal finance management platform designed to provide consumers with holistic insights and advise, to help them build stronger financial health.
Paisabazaar, through PBMoney, aims to deepen engagement with its large and diverse consumer base by offering a unified financial experience. PBMoney is built on the Account Aggregator framework, along with other data integrations, offering consumers a comprehensive view of their entire financial life. The platform consolidates financial accounts-including bank accounts, mutual fund portfolios, and stocks--into a single dashboard. In the coming months, PBMoney will also integrate data on insurance coverage and GST filings, providing consumers a complete understanding of their financial standing.
This industry-first initiative will provide personalised, actionable insights to help consumers track income and expenses, monitor investments, and assess insurance coverage-empowering them to make informed financial decisions. Built on a technology-first approach, PBMoney delivers a seamless and intuitive experience to enhance financial awareness and wellness.
Radhika Binani, Chief Product Officer, Paisabazaar, said, "As a consumer credit platform, we have helped millions make informed credit decisions over the past decade, earning deep consumer trust. With PBMoney, we are extending this ethos beyond credit to empower consumers with holistic financial wellness. PBMoney will provide a seamless, unified and holistic financial management experience-empowering consumers to take control of their financial future with confidence."
Along with seamlessly tracking income and expenses and providing actionable insights to manage their financial lives more efficiently, PB would deliver a comprehensive view of mutual fund and stock investments, offering key insights into portfolio performance and composition.
PBMoney's investment advisory services would offer personalised recommendations powered by advanced algorithms and data analytics. The platform will analyse each individual's profile and risk appetite in real-time, offering tailored investment strategies, including portfolio rebalancing to help consumers maintain their desired asset allocation over time and keep their investments aligned with their financial goals and risk profiles.
PBMoney's advisory services are independent of execution and transactions. Consumers are free to implement the advice on a platform of their choice, ensuring greater transparency and keeping consumer interests at the core. The digital-only model also eliminates the complexities and friction often associated with traditional advisory services, providing instant access to personalised insights anytime, anywhere.
In the coming months, PBMoney would continue to evolve, keeping consumer needs at the centre and expanding insights into all key financial aspects including adequate insurance coverage, emergency corpus planning, and more.
* Paisabazaar is India's largest marketplace for consumer credit and free credit score platform. It is part of the PB Fintech Group (listed on Indian stock exchanges since 2021)
* Over the last 11 years, Paisabazaar has earned the trust and goodwill of over 50 million consumers
* Every month, the platform receives around 20 lakh enquiries from more than 1000 cities.
* Paisabazaar over the years has built deep partnerships within the lending ecosystem, partnering with 60+ Banks, NBFCs, NBFC fintechs, to offer wide choice
* Paisabazaar has been running India's largest credit awareness initiative, by offering consumers their credit score from the credit bureaus for free
* Paisabazaar's co-created strategy helps meet consumer need gaps, through a robust array of exclusive, first-in-market and best-in-class digital products, built with partner Banks and NBFCs
* Paisabazaar is also an ISO (27001: 2013) certified organization with industry-best controls, to safeguard the best interest of consumers. We are also a PCI DSS certified organization
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