Intuit earlier partnered with Moneycontrol for soft launch of Money manager and has today announced the official launch.
Intuit money manager helps you to plan, track investments and is offering 90 days free trial.
So how is it different from Intuit Money Manager in US?![IntuitMoneyManager_SaveTimeSaveMoney[1]](http://www.pluggd.in/wp-content/uploads/2010/01/IntuitMoneyManager_SaveTimeSaveMoney1.gif "IntuitMoneyManager_SaveTimeSaveMoney[1]"){kind=small}
Intuit money manager for India (website) is money manager plus budget planner that supports investment tracking as well (integrated with Moneycontrol portfolio).
Personal Finance Products:
Typically, personal finance companies fall under following categories:
- Manual – companies like trackspends fall under this category (you do all things with ‘virtual’ money).
- Screen Scraping (Arthamoney does this)
- Bank Integration – Very few companies can claim to do this.
Intuit Money manager is targeted towards urban population and is integrated with bank accounts as well.
The product is tightly integrated with Moneycontrol (you need to login to MC to use the tool) and to me, that’s a great GTM strategy, but how sustainable is it?
Shouldn’t Intuit be building it’s own product portfolio/user base than rely on Moneycontrol for growth?
What about Mint integration?
Also see: ArthaMoney Money Manger – Mint Like Financial Manager for India
Related Market Research: Online sales accounts for 18% of total financial products sales in India
Thanks for this update. It’s good to see nice developments in the personal finance space but I do not agree on the type of personal finance companies you have mentioned as it’s not exhaustive. I would urge you to check out http://investmentyogi.com/
We are trying to create a next generation personal finance company focused on provide right and unbiased advice and information which is in addition to the tools and applications. You can do the following:
1. Create your financial plan using a cool web application
2. Do research on Mutual Funds
3. Create and track your monthly budget
4. File tax returns for FREE
5. Read a huge no. of articles of variety of personal finance topics
6. Get your queries answered by experts
and there is much more
Dear Suryadeep Agarwal
It sounds that you might be a company guy
Well the same features are provided by Itrust people too. But here the point is that what is all about money manager
It might be a web tool or it might be a service for example like Itrust or Investment yogi etc etc
For me How many people know this and how many people use these services personally, i think very low might be high in cities
Surprisingly when i am going through our regional news paper online ( EEnadu ) i just read a story where a person started a dummy company promised public to invest and get great returns ( Even RBI or SBI or any nationalised bank wont provide ). He is out now with 5 crores and public approached police
See people do have money, but how many people opt for online or how many people visit a branch which is located in cities.
My suggestion is get into nerves of country, Open up a franchisee type in each town. People do have money with them, educate them thats it after few years from now let me know who will say INDIA is still DEVELOPING COUNTRY.
Let me know your views
Thanks & Regards
Sai Pothuri
Dear Sai,
Your guess is right. I am indeed a company guy
But thanks for your suggestion. Your observation is absolutely right. People in our country have been taken for a ride for decades and especially when it comes to investment decisions. The scam you mentioned keeps happening on and off.
Having said that, starting branches in all cities and towns is a daunting task. We have started with a website and if you continue getting encouragement, we will definitely implement your suggestion some day.
Do let us know some more feedback.
Regards,
Suryadeep
Dear Suryadeep Agarwal
Its nice meeting you in this platform. Well i already provided a suggestion like putting up a chat applet, where people get instant response. Because there are many sites, many blogs, and many more forums… but the core point is same ” solution from Experts ” and the another core point is ” need to wait until to get reply ”
The reason is simple you already told above that scams do happen.. and people do get into trouble.
And i too know that putting up a franchisee network and opening branches is not a easy task.
But putting up a chat client and connecting it to a customer care person. where he will get the query from customer >> transfer to expert in office there itself >> get solution >> shoot the solution to customer either online ( if got solution in time ) or noting down the mobile number of customer and calling him back with solution
I bet in india no financial portal or forum or blog wont do this. ( as far i know ) if there is any such thing please let me know.. and if there is nothing like this.. you implement it
Technology changes day by day.. a finance website wont be a permanent platform for people to post and wait for replies.. be unique, get in touch with people.. because u designed products for People
Am i right?
Thanks & Regards
Sai Pothuri
Dear Sai,
Your feedback is indeed great. Lot of customers have been asking for live chat. As of now we have an “Ask the Expert” service where you can shoot your queries and it gets answered by the financial planning experts. But financial planning is a very niche skill and advice can be given only after thorough examination of facts, a live chat is not always feasible unlike many other services.
But rest assured we are working on this initiative and you will see it after some time.
By the way we would love to have your candid feedback on our recently launched application for financial planning: http://investmentyogi.com/Financialplans/common/home.aspx
Regards,
Suryadeep
Dear Suryadeep Agarwal
well, i too know that providing a financial planing is not a simple issue, but how many people will provide a clear cut query??. Suppose if i am having some 40 lakhs in hand, what i do with that 40 lakhs so that i get some interest every month to run my family with out hassles??
See in financial sector, money is the core point and investing is also another core point. Where this investing will be in many ways but the only one is money which is money only and cant be in any other way other than monetary terms
So in INDIA, how many people know about this money?? How to use that money?? How to get protected?? how to safeguard for future generations??
let me know your email ID so that i can share with you few more critical things
Thanks & Regards
Sai Pothuri
Dear Sai,
My email id is suryadeep@gmail.com
I will look forward to hearing from you.
Regards,
Suryadeep
India is a different market, other then some young techies or rarely any tech savvy investers very few would actually try this service.Many people would be afraid to put their bank transactions info online, until an unless this service directly opens from the bank website i.e direct affiliation with the bank itself.
Check out my opensource product MoneyMantra available from http://www.letthebucksgrow.com its a new product for india and free.It installs on the desktop.Some people have started using it, there are some bugs i admit since its recently launched, but do report them as you use and i would fix them.You can import ICICI transactions directly into the product and it would show the graphs of expenditure etc.
Dear Rajat
Let me Wish you happy new year and in this new year u will be succeed from all obstacles that come on your way. And my regards to your family members too
Well i am having few queries on your product
1) How much safe is your product, as we do bank transactions here and there, so whats your security?
2) And you also told that as bugs will araise some times, then it will be better to put the product to test for some time and where experianced test professional will clear the product out of bugs and you can grandly launch it outside.. Am i right?
Many in mind but out of all for a person to use a product he will check the security and safety measures and bug free
Thanks & Regards
Sai Pothuri