Pune,12 June 2019: India gets the first of its kind Fintech Vault app, for safeguarding
customers’ investment details, called Investment Safeguard. This is the First app in
India to ensure the availability of a person’s investment details to their loved ones,
in case of any unforeseen mishap. The app is a virtual vault which safeguards the
investment details, and not any sort of investment. This unique app has been
launched by ISF Technologies Pvt. ltd with Intellirich Devsoft Pvt. Ltd. as its parent
In order to save the financial detail on the app, a person has to download the app
and create his profile to enter the financial details. Investment Safeguard encrypts
the user’s investment details before transferring it to the application servers. So,
nobody except the user and the appointees (when required) have access to the
investment details. The intuitive app provides customers a single window to add and
manage details of their family members and friends in their preferred order. Under
any unwanted situation the app shares investment details with customer’s family
members and friends. Also, Investment Safeguard's support team will reach out to
the user’s family and friends to ensure that investment details are received properly
and are understood by the recipients.
With Investment Safeguard, the user gets periodic reminders to revisit the
investment records and ensure that details are up-to-date. It gives the user an
option to set the notification reminder either once every month or once every two
months or once in three months, based on their convenience. In case the user fails
to respond to the notification, the support team will reach out to the user first, and
subsequently to the beneficiaries.
Additionally, the app offers a family-member login feature to enable customers to
configure permissions so that their family members have an option to login and
access their investment information. Based on their preferences customers can
decide that a particular family member can access details of only a specific
Present at the event was Guest of Honor, Mr. Prashant Phatak, Founder & CEO at
Valency Networks and AppTrusty, who spoke on the paramount importance of not
just safeguarding investments but also its details.
Commenting on the launch, Sandip Sanap, Founder & Director, ISF Technologies
Pvt. Ltd & Intellirich Devsoft Pvt. Ltd., said, “As per a report, in India more than 64
banks have a staggering Rs. 11,400 crores as an unclaimed amount! It is a shocking
number and that is when we realized that how bad the situation would be in other
financial areas where asset tracking is more difficult. Hence, we came up with the
idea of this app. We all work hard securing our and our family members’ future
through investments and there can be nothing worse than that amount going down
the drain. We hope with this app people will be able to safeguard the details of their
investments for their loved ones (if utilized effectively). Our idea is to ensure that
details of customer’s investment are well protected and their beneficiaries are aware
of the investments that they are entitled to. ”
A user must give just the basic details of investment and not the amount on the app.
However, the consumer can enter the value related information for Mediclaim
policies that will help the appointees to make an informed decision during medical
emergency by accessing the right policy as per the demand of the situation.
The user can terminate the use of the service at any time, in that case the app wipes
off all the data from the server. After the verification process the account will be
deactivated/deleted within seven days. Hence, the application is totally secure.
Starting today, consumers can download the new app for android from the Google
play store. Soon it will be available for iOS users on App store.