Click here to view and modify your goals Click here to view and modify your budgets Click here to view the spending analysis of your spends Click here to view the spending analysis of the customer. Click here to view and modify your budgets. Click here to view and modify your goals.

PERSONAL FINANCE MANAGEMENT

The personal finance management module enables customers to take control of their money by providing them with a financial overview of all their holdings with the bank. With the help of the personal finance management tools, the customer is able to plan finances and track their expenditure.

This module comprises of multiple tools, all of which are described in this document.

Features Supported In Application

The Personal Finance Management module supports the following features:

Pre-requisites

Personal Finance Management Overview

The retail dashboard displays an overview of My spends, Goals and Budgets of the user. By default it displays user’s spends for last 30 days and the category name with expenditure amount is displayed, where spend has been maximum. There is a widget for Goals which shows the number of active goals with an option to create new goal or manage existing ones. Another widget is placed for showing number of active budget categories with option to create new budget or manage existing ones.

Click on individual components to view in detail.

Dashboard

Trends dashboard shows widgets of PFM viz. My Spends, Budgets and Goals. They give a brief snapshot of the current financial whereabouts of user with the bank.

My Spends

This section displays the spending analysis of the customer. The spending patterns of the user are in the form of a donut chart. The details displayed in the chart will be based on the category wise expenditure in all savings accounts mapped to the user. The user can also view a period wise spend analysis.

The displays the total amount expenditure incurred during a period of last 30 days. It also displays the name of the category in which the highest expenditure has been incurred for that period. Click the View Details link to open the My Spends transaction screen. This screen displays the records of all transactions made in the customer’s accounts. The category that each transaction comes under is displayed against the transaction record.

Goals

This section displays the count of all the active goals that are created by the user.

Clicking option_icon More Options icon, user gets to modify the existing goals. It opens the My Goals screen from which the customer can view, modify, contribute to a goal or even withdraw partially or fully from a goal. The user can also create a new goal from More Options.

Budgets

This section displays count of all the categories against which budgets created by the user.

You can also modify and create new budget by clicking option_icon icon.

Trends

Trends

My Spends

This section displays the spending analysis of the customer in the form of a donut chart. The customer can customize the way the spending analysis is displayed on the basis of the following filters:

  • Filter 1: This option enables the user to view the spending analysis based on categories
  • Filter 2 : Periodic search options available to the user. User can view the spending patterns of the current month, last 30 days, last 60 days or last 90 days.

The graph displays the percentage wise amount spent in each category in the chart. By default the graph displays the current month and all spend categories where expenses were incurred during that period.

Click a particular category on the graph to view details i.e. sub categories of that category. The amount spent in each category is displayed along with the percentage comprising of that sub category. Click Refresh to refresh the graph.

The total amount of expenditure incurred during the period that is being viewed is displayed along with the two categories in which highest expenditure has been incurred for that period.

The View All Transactions option is provided so that the customer can view the transaction records comprising of the spending analysis. Clicking this option opens the My Spends transaction screen. This screen displays the records of all transactions made in the customer’s accounts. The category that each transaction comes under is displayed against the transaction record.

Budgets

This section displays the count of all the budgets created by the user. You can view, and create new budget by clicking option_icon icon.

By using the Create Budget option you can create a new budget. Clicking this link takes you to the My Budgets screen.

Goals

This section displays the count of all the active goals that are created by the user.

Clicking option_icon More Options icon, available on the goal card, opens the Create Goal and Manage Goals screen from which the customer can view, modify, contribute to a goal or even withdraw some amount from a goal.

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