Perfios PFM - Revolutionizing the Personal Finance Management

18th January 2024

Personal finance management, much like steering a ship through turbulent waters, comes with its own set of challenges. In a world where financial landscapes are constantly evolving; individuals grapple with various pain points that can make the journey towards financial stability and success a daunting task. Businesses and individuals alike, struggle to manage multiple financial assets simultaneously. As financial data is dispersed, people frequently struggle to obtain a complete picture of their financial situation. Therefore, financial institutions should have access to the most recent financial data, which is essential for determining creditworthiness, creating customized financial products, and enhancing the general customer experience. Addressing these pain points head-on, Perfios has introduced a revolutionary Personal Finance Management (PFM) platform.

Perfios' PFM - A Game Changer

Enters Perfios PFM, a powerful tool that helps financial institutions and individuals alike overcome the challenges involved in managing their finances!

The platform possesses the capabilities that allow for the aggregation of financial data through Account Aggregator (AA) and statement uploads, enabling businesses to visualize the consolidated financial overview. Let's delve into the crucial step of how PFM accumulates data from multiple sources:

1. Data Aggregation Through Account Aggregation (AA):
The PFM platform leverages AA to combine financial data from multiple sources easily. This implies that people will no longer need to switch between various platforms to keep tabs on their investments, bank accounts, and spending. The platform streamlines the intricate web of financial data by offering a single, unified view. The bank's clients can take advantage of features like 360-degree views, spend analysis, portfolio analysis, etc.

2. Holistic Insights via Statement Uploads:
The PFM platform not only supports AA but also statement uploads, which let users integrate information from a variety of financial instruments. This feature makes sure that people can examine all the information from bank statements, credit card statements, loan accounts, and investment portfolios to fully assess their financial situation. A 360-degree perspective that facilitates well-informed decision-making is the outcome.

What simply makes it the best?

PFM offers prominent features that make this platform a game-changer. Businesses can assess and analyze the aggregated data by using these features, making users' journey of financial management seamless. These functions can be used to create standalone apps or they can be incorporated into already-existing end-user journeys, like online or mobile banking apps.

360-Degree View:

With the help of the PFM, users can view their entire financial picture in one location and have their exposure to different asset classes and instrument types broken down by net worth analysis. Additionally, the platform offers the capability to monitor the portfolio values over time. 

PFM Help

Spend Analysis:

Businesses would be able to enable users to examine their spending patterns, spot trends, and make wise choices. All bank transactions are categorized by the PFM, which also offers the analysis of top spend categories and cash flow when the transaction data is submitted by users.

Financial Events Calendar:

The PFM automatically calculates income and recurring payments based on user bank statement information. EMI, Insurance premium, SIP, Credit card payment, and Utility bill payment are the subsequent events that are recognized by the platform.

Apart from displaying these events on the screen, they can also be utilized to notify users via email, SMS, or in-app. Using a different API, the end user can also create personalized alerts and reminders for their financial transactions. This makes sure users keep track of critical financial events and payments by offering them a personalized calendar.

Goals Management:

Businesses could empower users to move toward a more secure financial future by allowing them to precisely set, monitor, and accomplish their financial goals using the PFM. The platform offers APIs for setting up multiple goals, connecting accounts to goals, and monitoring goal progress. As part of a user's comprehensive 360-degree data fetch, the linked accounts' balances can be routinely updated. The most recent balances can be utilized to track goals' progress.


With the PFM, users can easily create and follow a budget that encourages prudent spending and financial restraint. Customers of the bank can create budgets at the individual spending category level and monitor actual expenditures by category against the budget. It also informs the user when they have gone over or are getting close to a certain percentage of their budget. The overall budget utilization on a monthly or annual basis can also be viewed.

Nudges/ Insights:

To find patterns in the financial behavior of its customers, PFM analyses their investment and bank data. Customers can benefit from this analysis by using it to manage their finances, and the bank can benefit by using it to cross- and up-sell customers on extremely relevant products. Users can view account summary, holdings, and transaction level information for all asset classes—stocks, mutual funds, bonds, and insurance—once the data has been aggregated.



PFM creates thorough reports that offer a detailed perspective of users’ financial situation and support strategic planning.

Experience the PFM Platform

In the field of personal finance management, Perfios' PFM stands out as a shining example of innovation. Through the resolution of issues encountered by both individuals and financial institutions, this platform provides a comprehensive solution that optimizes workflows and enhances the quality of financial management. The platform enables financial institutions to improve risk management, expedite procedures, and provide more customized services to their clients. Because of its ability to adapt to the changing needs of the industry, the platform is a valuable tool for financial institutions trying to stay ahead of the competition. Perfios' PFM helps in navigating the complexities of personal finance in a constantly evolving environment.

About Perfios:

Perfios Software Solutions is India’s largest SaaS-based B2B fintech software company enabling 1000+ FIs to take informed decisions in real-time. Headquartered in mumbai, India, Perfios specializes in real-time credit decisioning, analytics, onboarding automation, due diligence, monitoring, litigation automation, and more.

Perfios’ core data platform has been built to aggregate and analyze both structured and unstructured data and provide vertical solutions combining both consented and public data for the BFSI space catering to their stringent Scale Performance, Security, and other SLA requirements.

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