Account aggregator in India - Simplifying financial management

Stock investment in India can only be done through an authorised broker. You need to open a Demat account with your broker and then invest in the preferred stocks.

If you have one Demat account, portfolio tracking becomes easy. You can check the position of your stocks and make investment decisions. But what if you have multiple Demat accounts? Will managing your portfolio be an easy task, then?

It might not be! Imagine juggling through different stock broking platforms to check the value of your portfolio. If you have invested in stocks through different Demat accounts, tracking their daily performance can become all the more difficult. Wouldn't it be easier if there was one consolidated portfolio tracking system?

This is where the concept of an account aggregator system comes in. Account aggregators in India allow you to connect your financial accounts for a consolidated view. When you choose the IDFC FIRST Bank Mobile Banking App, you can connect multiple Demat accounts with its new feature.

Before delving into the details of the new feature, let’s understand the basics of account aggregators.

What is an account aggregator?
 

An account aggregator in India is a platform for sharing financial data across users. You can register on the platform and access and share your financial information across different institutions.

For instance, the IDFC FIRST Bank Mobile Banking App is an account aggregator platform. You can register on the app and connect different banks and Demat accounts for a consolidated view.

New launch: The IDFC FIRST Bank Account Aggregator for Stocks
 

The IDFC FIRST Bank Mobile Banking App has launched a new feature called the Account Aggregator for Stocks. This feature allows you to connect multiple Demat accounts for easy portfolio tracking. Whether you have a Demat account with the National Securities Depository Limited (NSDL) or the Central Depository Services Limited (CDSL), you can connect them through the IDFC FIRST Bank Mobile Banking App.

The benefits of the new feature are as follows –

1. One-stop destination for investment tracking

One of the primary benefits of the Account Aggregator for Stocks feature is the ability to view all your stockholdings in one place. No more hassles of checking your investment across different platforms. With this stock inventory management system, you can get a single and consolidated view of all your holdings. It is simple, easy and convenient.

2. Complete security

Your data is completely private and secure. The account aggregator system is regulated with end-to-end encryption. They do not view or store your information. It simply facilitates easy transfer and access, and that too, with your consent!

3. Daily updates

You get daily updates about your stock’s performance, i.e., the stock prices are updated with each change. This helps you get the latest information on your investment for real-time trading decisions.

4. Detailed investment synopsis

The Account Aggregator for Stocks feature connects your Demat accounts and gives a detailed breakdown of your investment. You can check the total portfolio value and stock-wise investment.

That’s not all. With a simplified connection process of Demat accounts, you can consolidate your portfolio within seconds!

Consolidate your portfolio today!
 

Eliminate the need for cumbersome stock tracking and management across different apps or websites. Choose the IDFC FIRST Bank Mobile Banking App’s Account Aggregator (AA) for Stocks feature to connect your portfolio across multiple Demat accounts in seconds. This account aggregator in India is simple and user-friendly, bringing all your stockholdings under a single window.

Check your stocks' daily performance and manage your portfolio effortlessly. Enjoy a secure, encrypted, and easy platform that keeps cyber threats at bay while giving you complete convenience.

With a few clicks and your consent, you can complete the process of connecting your accounts in seconds. So, why the wait? Whether you are a seasoned or a new investor, make financial management easy with the IDFC FIRST Bank Mobile Banking App.