First financial services group to introduce SMS-basedpersonal finance App

App provides a unified view of the user’s finances including expenditure and spending patterns

Unique features of WealthPack:

·         Android-based, automated Personal Finance App

·         Automated tracking and categorization of expenses from 50+ banks and credit cards

·         Real-time processing of information

·         Aggregate view of multiple user accounts

·         All bills in one place, with reminders

Edelweiss Group, India’s leading diversified financial services group, recently launched an android-based personal finance managementApp, called WealthPack. The Appaggregates information related to one’s income and expenses from existing text messages (SMS) on one’s phone, helping retail customers get a better grip on their personal finances. With a

wide coverage of 50+banks and credit card providers, the Appprovides a unified view of the user’s finances, and helps the userbetter understand his/herspending patterns by automatically bucketing them into one of multiple categories available.

At Edelweiss, the customer is at the heart of all that is doneand hence the realization thatcustomers need a product or solution, which helps them get a stronger hold on their finances. With that in mind, Edelweiss decided to launch a product, which will help customers understand their finances better and will help them save efficiently, thereby helping them sow the seeds for long-term wealth creation. Powered by sophisticated algorithms, the App has one of the best transaction categorisation systems amongst its peers, which gives the user a holistic view of where his/her money is going, in real-time.

Talking about the AppMr. Rahul Jain, Head – Personal WealthAdvisory said, “Almost 50%of our customers who we surveyed said that they wanted a better grip on their personal finances. We saw this as an opportunity, as very few financial services groups are addressing this problem. WealthPack helps the user significantly, by helping him understand what he is doing with his money.”

“The App runs on powerful algorithms, which automate tracking and categorization of transactions, thereby reducing the work load on the user. During our beta launch, we have had an overwhelming response from users and we have now launched the App for everyone. A better understanding of personal finances empowers the user to make financially prudent decisions for the future”, added Mr. Riyaz Ladiwala,EVP – Digital Transformation.


With Edelweiss’ diverse platform offerings and expertise in financial products, this move will be highly beneficial to users, both existing and new. In the coming months, Edelweiss plans to roll-out more features,which will help customers save efficientlyand also provide access to relevant financial offerings from the Edelweiss platform over time, through thisApp.

About Edelweiss Group:

The Edelweiss Group is one of India’s leading diversified financial services company providing a broad range of financial products and services to a substantial and diversified client base that includes corporations, institutions and individuals. Edelweiss’s products and services span multiple asset classes and consumer segments across domestic and global geographies. Its businesses are broadly divided into Credit Business (Wholesale Credit comprises of Structured Collateralised Credit to Corporates, Real Estate finance and Distressed Assets Credit. Retail Credit comprises of housing finance, loan against property, LAS, SME and Agri Finance, andRural Finance), Non-Credit Business (Capital Markets, Wealth Management, Asset Management and Agri Services) and Life Insurance. The Balance Sheet Management Unit operations manage the liquidity and Balance Sheet. Edelweiss has an asset base of over INR 32,000 crore with revenue of INR 5,316 crore and net profit of INR 414 crore for FY16. Its consistent performance is evidenced by a PAT (excluding insurance) CAGR of 38% over the last four years.

The group’s research driven approach and proven history of innovation has enabled it to foster strong relationships across all client segments. The group has sizeable presence in large retail segment through its businesses such as Life Insurance, Housing Finance, Mutual Fund and Retail Financial Markets. It serves its 887,000 strong client base through 6,227 employees based out of 237 offices (including nine international offices) in 122 cities. Together with over 4,500 strong network of Sub-Brokers and Authorized Persons, Edelweiss group has presence across all major cities in India.

To learn more about the Edelweiss Group, please visit