My Folio is a mobile app that helps you secure your personal investments by allowing you to securely collate all your financial assets, liabilities, notes, non-financial assets, memorabilia, and much more in one place. My Folio then allows you to share this information with your chosen Nominees in real-time, or automatically, in case of unforeseen calamity.
My Folio is unique in its ability to share all, or a specific category of your information, with your Nominee in Real Time, OR automatically in the case of death. In the event of death, the information you store on My Folio is easily accessible by the Nominee.
Absolutely not! Owing to the fact that the data is end-to-end-encrypted, no one but the user and their assigned Nominees have access to the relevant data. Further, the users control how and when their information is shared with their Nominee, if at all. My Folio places utmost importance on the integrity and confidentiality of its users’ information.
At Myfolio, we encrypt all data and information uploaded onto the app by users using the AES-256 encryption method. Data is then transferred to a secure cloud using a secure connection. The data is stored on this cloud and protected using a second level of encryption involving secret keys. This completes the encryption of the data. Hence, the data can be viewed only by the Nominator who owns the data, or the Nominee with whom this data is shared. No one else can decrypt or view this information. Further, the data is accessible only through the app, and no other medium, such as a website or a third-party intermediary. My Folio routinely monitors and updates its security services to ensure maximum security.
1. To add people as Nominee(s), simply go to the ‘Profile’ section in the app, and select the ‘Nominator/Nominee’ tab. Then, click on ‘My Nominee’. 2. Then, add the details of your Nominee: name, contact number, email ID, etc. 3. Upon doing so, My Folio will send an OTP to your Nominee via email. 4. Request your Nominee to share the OTP with you, and enter the OTP in the required field. 5. Once the OTP is verified, your connection is secure.
A maximum of 10 Nominees can be added per person.
Yes, Nominees can be added to your profile irrespective of their residence.
The only requirement for adding individuals situated outside India as your Nominees is for them to have a functioning email ID. The process enlisted under Question 5 can be followed in order to appoint a person situated outside India as your Nominee.
A Nominee can view the information uploaded by the Nominator ONLY IF the Nominator provides access to the Nominee when information is requested. The Nominator may also themselves opt to share the information with the Nominee. Information may be shared in real-time, or automatically post-death. The Nominator can revoke this access when they wish to.
To request the Nominator for access to the Nominator’s information, tap the ‘Nominee/Nominator’ tab under the ‘Profile’ section. Next, tap on ‘My Nominator’, and then choose the option stating ‘Request All Information’. The Nominee will receive an email notification, as well as a pop-up notification on their app, confirming if they wish to 'accept' or 'deny' the request made by the Nominee. Once the Nominator approves the request, the Nominee will have access to the Nominator’s information.
In case the Nominator passes away, the Nominee can go to the ‘Profile’ section, and under the ‘Nominee’ tab, tap the option which says ‘Request Nominator’s Information’. Once opted for, the Nominator is notified via email and through the app on their phone. The pop-up notification received on the app shall read: “The Nominee [Nominee Name] has requested for access to your financial information. Accept Or Decline” The dual notifications will be sent as mentioned above for 11 days consecutively, during which time, the Nominator can decline the request. If no action is taken on the request made, on the 12th day, the Nominator’s information will be made available to the Nominee automatically. Users are advised to carefully read the details of ‘Access to Information’, as provided in the ‘Terms and Conditions’.
Yes, you can. Every category of information is accompanied by a ‘Share Now’ option which can be used to share all or specific pieces of said information.
You can access the information shared with you by your Nominator by tapping on the ‘Nominee/Nominator Details’ tab under the ‘Profile’ section on the app. Then, tap the ‘My Nominator’ tab, and the information shared with you will be available for viewing.
Users will be notified regarding the renewal of their subscription 30 days prior to the end of the current subscription. If a user fails to renew the subscription after the subscription period or the free premium period is over, the user’s account will enter the grace period of 60 days. During this period, though the account will be active, the user can only view information but cannot upload new information. The option to share this information with their Nominee(s) will still be available till 45 days of the grace period are over, after which, in the last 15 days, this option will be disabled. After 60 days of non-renewal of the subscription, the user’s account and its information will be permanently deleted. This action cannot be reversed.
Yes. When the subscription is not active, the user’s account will enter a grace period of 60 days, during which they may renew their subscription. After the grace period ends, the user’s account and its information will be permanently deleted. This action cannot be reversed.
No. Once the grace period expires, the Nominee will have to create a new account. The Nominee can only resume their account during the grace period.
Yes. Currently, every member has to sign-up as a new user and subscribe to My Folio to avail of its services.
Yes. Nominees need to subscribe to the app to view their Nominator’s information.
A highly-secure information storing and sharing app to safeguard your financial and non-financial assets.
