UTI Mutual Fund Launches Wealth 360 for Unified Wealth Tracking
UTI Mutual Fund launched 'Wealth 360', a digital feature on its app and website. It provides a unified dashboard for users to track investments across banks, mutual funds, stocks, ETFs, and NPS. Built on the RBI's Account Aggregator framework, it ensures secure, consent-based data sharing.
The launch of 'Wealth 360' is a significant product enhancement that could improve customer engagement and retention. However, its direct financial impact is not immediately quantifiable and depends on user adoption.
The launch of a new digital feature that enhances customer convenience and provides a consolidated view of investments is a positive development for the company and its users.
UTI Mutual Fund has announced the launch of 'Wealth 360', a new digital feature available on the UTI MF App and website. This feature aims to simplify wealth tracking for users by providing a unified dashboard to view investments across various financial institutions, including bank deposits, mutual funds, stocks, ETFs, and NPS.
The Wealth 360 feature is built on the RBI-regulated Account Aggregator framework, ensuring secure, consent-based, and encrypted data sharing. It allows users to consolidate investments spread across banks, mutual funds, stock broking accounts, and other financial products into a single view. The service is available free of cost for both existing and new users.
This initiative is a collaboration with Finarkein, utilizing the Sahamati-led Account Aggregator ecosystem. It supports linking accounts from banks, depositories, RTAs, NPS, and insurance providers. The dashboard is refreshed daily and provides transaction-level insights to help users understand spending patterns, monitor investments, and track their net worth. The company emphasizes its focus on building digital-first capabilities to enhance investor convenience and engagement.
Users can access Wealth 360 by logging into the UTI Mutual Fund platform using existing credentials or by registering through PAN. The linking of eligible accounts is a consent-driven process. Mr. Vinay Lakhotia, Group President & Chief Financial Officer, UTI AMC, stated that Wealth 360 addresses the growing need for a simple and reliable way to view one's complete financial picture in an increasingly diversified investment landscape. Nikhil Kurhe, CEO of Finarkein, highlighted the partnership's significance for the open finance ecosystem in India, enabling a seamless, real-time view of all financial assets.
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UTI Asset Management Company Limited filed this with the NSE as a statutory disclosure, categorised under product launches. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by UTI Asset Management Company Limited. Read the original for the full detail.