Chennai, Sep 24 (UNI) The city-based GSB Financial Solutions has come up with, what it claims, a first-of-its-kind product, ''Finnplann'', master wealth check up that manages and plans one's finances.
The easy-to-use financial planning tool makes use of cash concepts to deliver a simple and readable understanding of one's financial status.
The uniqueness of the product was there was a planning element enabling one to see the effects of financial decisions on the cash flow, helping make an informed choice instead of just following the advice given by portfolio managers.
''Finnplann software facilitates a deep understanding of one's finances and helps you determine whether the money is working for you.
''It also tells you how to derive maximum benefit by using the information available and projecting values every year for ten years. Variables such as inflation, asset appreciation impact of EMIs, loan pre-payment based on individual perception are factored into the package,'' GSB Director Giridhar Bail told reporters here today.
Stating Finnplann was a first-of-its-kind product in India, Mr Bail told reporters here the product was constructed simply on a single page data entry format.
It was currently available in three languages--Tamil, Hindi and Kannada. It would be expanded to cover all major Indian and foreign languages.
The market potential for the product was huge as it could be used by individuals, banks, other government bodies and corporates.
''Finnplann is a highly useful product for banks, corporates, micro credit financial institutions and individuals providing financial services, to profile their clients' needs such as insurance policies, mutual funds, loans, credit cards and shares,'' Mr Bail added.
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