4 Benefits of unifying stock portfolio with an account aggregator

Meet Rahul, a tech-savvy investor who, like many of us, loves keeping a close eye on his stock portfolio. However, Rahul has accounts across multiple platforms. While these brokerage accounts help him diversify his investments, tracking his stock performance across different apps has become a juggling act.

If this sounds familiar, your solution is the new Account Aggregator (AA) feature by the IDFC FIRST Bank for your stock portfolio. This innovative feature simplifies your investment journey by consolidating all your Demat accounts into a single, secure, and user-friendly view.

Curious about how it can revolutionise your investing experience? Let's explore the details.

4 Benefits of the Account Aggregator feature for your stocks portfolio
 

Here’s how account aggregation in the IDFC FIRST Bank Mobile Banking App simplifies portfolio management for you –

1. All stock holdings in one place

The AA feature with IDFC FIRST Bank allows you to consolidate all your stock investments across different platforms into a single, easy-to-use interface. You can track your portfolio effortlessly by linking all your Demat accounts in one app.

Here’s how this feature can benefit you –

a) Single view for all investments – You can monitor the value of your entire stock portfolio across different brokers within the IDFC FIRST Bank Mobile Banking App. No need to switch between platforms. This makes portfolio management seamless and efficient.

b) Total holdings summary – View the total value of your investments at a glance, giving you a clearer picture of your wealth.

c) Daily portfolio snapshot – Track short-term changes in the value of your stock portfolio with easy-to-read summaries.

d) Seamless financial management – With stocks, bank accounts, and other investments in one place, you can better understand your financial position and make informed decisions.

2. Security and trust

Data security is one of the top priorities for investors when linking their Demat accounts to a new platform. The Account Aggregator (AA) framework ensures it meets the highest data privacy standards. IDFC FIRST Bank adopts this robust framework to give users peace of mind while managing their financial information.

Here’s how it works –

a) The AA framework is end-to-end encrypted, ensuring your financial data is shared securely

b) You have complete control over what data is shared and with whom

c) The platform operates on consent-based sharing, meaning your data isn’t accessed without your explicit permission

With these safeguards in place, the IDFC FIRST Bank Mobile Banking App ensures a safe consolidation for financial management.

3. Ease of use

Setting up new integrations or linking multiple accounts can be complex. However, IDFC FIRST Bank has made securely connecting your existing accounts to the Mobile Banking App effortless.

Here’s how to make a portfolio view in seconds –

1. Log in to your IDFC FIRST Bank Mobile Banking App.
2. Navigate to the Account Aggregator section.
3. Select the brokers where you hold Demat accounts.
4. Authorise access securely using the consent mechanism.

Once linked, your stock portfolio data will sync automatically, giving you a consolidated view in real time.

4. Enhanced financial overview 

The comprehensive view due to the AA feature supports better financial management, helping you understand how your portfolio is performing overall. This bird’s eye view can help you to –

1. Spot underperforming stocks
2. Rebalance your portfolio
3. Set financial goals

In addition, future updates may also offer personalised insights, giving you tailored recommendations to optimise your portfolio.

Experience seamless stock management today!
 

Managing multiple Demat accounts across brokerage platforms with the AA feature from IDFC FIRST Bank is a revolution in managing your stock portfolio. Consolidating all your financial data in one place offers unmatched convenience, enhanced security, and valuable insights that improve your financial management.

Ready to streamline your finances? Link your Demat accounts today with the IDFC FIRST Bank Mobile Banking App.