India’s largest privately-held bank by
assets, ICICI, has launched a personal financial management
tool (PFM) titled Money Manager.

The PFM tool was launched in partnership with
business and personal finance management solutions vendor

ICICI said that the online PFM tool will
enable its customers to analyse their spending habits and organise
their finances by categorising them.

ICICI’s Money Manager PFM tool also allows
customers to set a financial goal and track their spending to
achieve it.

The executive director at ICICI Bank, Rajiv
Sabharwal, said that innovation technology was a core business
element for the bank.

The Money Manager PFM service includes:

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  • Aggregation of ICICI Bank accounts, such as
    savings account, credit cards,
  • Loans on one screen;
  • Automated segregation of transactions across
    different income or expense categories;
  • Financial performance and investment
  • Setting monthly budgets
  • Get custom alerts on their balances,
    transactions and bill payments.

Domestic rival HDFC offers

Rival HDFC, India’s fifth largest bank by assets,
has been offering an internet banking service that aggregrates bank
accounts from ICICI Bank, HSBC India, Standard Chartered and HDFC
Bank, OneView, since 2002.