Fintech firm MobiKwik has unveiled a new feature within its mobile application called ‘Lens.’ This innovative feature offers users a comprehensive, 360-degree view of their financial portfolio, covering investments, insurance, and pension funds. Lens harnesses the power of the Account Aggregator (AA) framework, facilitating secure and efficient data sharing among various financial institutions. Utilizing advanced technology and data science, the platform simplifies complex financial data, making it both understandable and actionable.
Bipin Preet Singh, Co-founder and CEO of MobiKwik, highlighted the significance of Lens in promoting financial wellness, specifically in terms of enhancing users’ awareness and control over their finances. Research conducted by MobiKwik indicated that many individuals struggle to closely monitor the intricate details of their financial transactions, inflows, and outflows. Lens aims to empower users to make informed decisions about their finances and take proactive steps to manage their financial health.
Through Lens, users gain access to a comprehensive overview of their net worth, complete transaction details, intelligent categorization of income and expenses, and insights into their bank account balances, spending habits, investments, and repayment patterns. Additionally, users can easily download their bank statements and gain insights into upcoming bills, recurring payments, and monthly expenditures, facilitating improved budgeting.
One noteworthy feature of Lens is ‘Highlights,’ which provides users with alerts and prompts related to bill payments, expected refunds, changing spending patterns, and more. This feature enhances users’ financial awareness and assists them in making more informed financial choices.
