I have observed that Jupiter asks for email access if I want to import my mutual funds from outside with the email. Why does it ask for email access? So, I have found out that Jupiter provides the mutual fund service by using AIAPL. What is AIAPL? So, does Jupiter not provide the mutual funds directly but does it with the help of AIAPL? While Groww is itself registered with SEBI for the mutual funds?
Importing of external mutual fund portfolio will need for your email address to get connected so that your portfolio information can be automatically captured. Other apps like IndMoney also follow this approach. This, to a certain extent ensures accuracy of the portfolio import
AIAPL stands for Amica Investment Advisers Private Limited, is a SEBI registered Investment Adviser - INA000015507. Jupiter’s parent company partners with them to offer mutual fund services
It’s Amica Investment Advisers Private Limited. It’s SEBI registered.
Also, registered company name of Jupiter Money is Amica Financial Technologies Private Limited.
Dear @alec just to clarify some of your queries,
Email access is necessary in order to import your external fund to a platform.
Jupiter is just the brand name of Amica Financial Technologies Private Limited. And Jupiter directly offers mutual funds through AIAPL
If you look carefully you’ll find that, Groww is also registered under the name of “NextBillion Technology Private Limited”.
Okay good. By the way, groww don’t require the email access to import the mutual funds but jupiter require it.
Groww also needs of your your email id to import external fund. Basically, the funds are imported using CAMS.
Is this option is not better than providing access to the entire inbox ?
They need email I’d, and not the read access.
I get the following message.
Jupiter wants to access your Google Account
This will allow Jupiter to:
View your email messages and settings
Make sure you trust Jupiter
You may be sharing sensitive info with this site or app. You can always see or remove access in your Google Account.
Learn how Google helps you share data safely.
This is the standard privacy verbiage that is displayed that encourages you to check once before you proceed.
The access to your inbox is to look for the monthly portfolio performance report that comes in every month to update the portfolio performance
Ya,definetely that’s a better option. And this make me think that either jupiter money have bad intentions when they are asking for the read access to the mail or the developer of the Jupiter money don’t have the proper knowledge of cams or developers don’t gave proper sense of what is the customer privacy or the developer don’t want to increase their work and make the use of the cams and then user entering the email,developers might be thinking just like they take the sms access and then they full fill the otp requirements they would just take the email access full fill any otp requirements but they don’t understand that no one do personal chat on the sms but they might do on the email. Although I’m completely baffled on why would a company ask for the complete email viewing access. By the way it also seems to imply that I won’t be able to import the mutual funds if the email I’d that I have given don’t have Gmail then I won’t be able to import. And in the groww there is a option to add multiple emails.
AIAPL is sebi registered investment advisor entity and subsidiary of Jupiter. We had email forward option also but users wanted automated fetch from Gmail hence we implemented Gmail read… we don’t fetcha my other email except for CAMS.
I haven’t use the mutual fund feature in the jupiter app, as already start investing early somewhere else. Also I’m completely aware about any T&C and privacy policies.
Additionally, giving access to the gmail is standard practice to fetch necessary details.
Hey guys sorry for coming Out of blue
I wanna ask how does an international Wire transfer takes to arrive ? If any of you know
Thanks for telling it that asking for the email and setting view access is a common practice. Which other app or website do it?
I have experienced this with IndMoney, Cube.
@Shivkumardelhi sent you response on the thread created for this topic
Please introduce a option in mutual funds. Make a option that allows us to Set a alram of a partical fund goes down or goes up. For example if a fund value is now 500. I want a alram when it comes down to 250 or when it goes up to 600. I hope u understand. If not just rply me back. This option will very usefull. And will raise your mutual department income.