Sunday, 13 August 2017

Greentape - A Best Mobile App for Your Digital Investment Account

Posted by MyInvestmentsPub
(Published on 13-Aug-2017)
In our country, everyone focuses on making savings which can be utilized by their family members whenever required. As a mode of investment, we choose different financial instruments such as Insurance, saving accounts, Provident fund, bonds etc but have you ever thought, “How many such instruments successfully deliver their benefits to investment makers or family members??”. At present, almost all the financial Institutions have been constantly ignoring the problems being faced by the beneficiaries. However, they are as much to be blamed as ourselves. We, at times, fail to realize that financial Instruments subscribed or bought for our loved ones may not provide them the desired benefits. Albeit, even if it provides sufficient coverage, the same may be inordinately delayed and fails to serve the purpose. Not to forget the painstaking effort required in getting those claims. When I am searching for any solution to overcome this problem, I heard about a mobile app, Greentape, which  will address the problems facing by the beneficiaries. We will see what is Greentape and its features in this post.

What is Greentape?

Greentape is a comprehensive solution to ensure that the beneficiary of your investments could get complete information at appropriate time chosen by you, see through the difficult times, and secure deserved benefits. Before going to discuss about the features of Greetape, we will see the total unclaimed amount sleeping in various financial institutions in India.

Total Unclaimed Amount in Financial Institutions:

Are you surprised with these mind- boggling numbers?? Why would someone who has invested hard earned savings, not reap the benefits?? The main reasons for these  unclaimed amounts are:

  1. Sudden deaths where information about investments of demised person is not known to family members
  2. Many investments were made long back and people forget about them with time
  3. Most of the times people do not have complete idea about claim process and required documents
  4. Litigation over amount of claims, changing residential addresses etc.

Why Greentape:

Surprisingly, in more than 85% cases, family members are not aware about investments made by key person of a family and in case of his/her sudden death, investments made by the person fails to provide desired benefits to family members. In India, rate of such sudden deaths is very high and increasing by 25-30% on annual basis. There is one death every four minutes due to a road accident and one death every 33 seconds due to cardiac failure. Given this scenario, there is imminent need of having effective mechanism to assure 100% benefit of your hard earned savings in different financial investment instruments to your family members. Surprisingly, we do not discuss our investment details with our family members often enough. We always think that we will tell complete information about our investments when appropriate time comes and as a result this topic goes into oblivion. Unfortunately, millions of Indians pass away suddenly without having that appropriate time where they should have told about every bit of their investments to family members. In some families even if discussions are carried out, such discussions never happen on regular basis. Thus, updated information is always missed. Even a loss of information about single investment instruments may cause huge loss to family members.

This is where Greentape Stands for billions of Indians to secure future of their families. Greentape has put effort to resolve this issue with Greenbox which is a personalized highly secured digital locker for every individual. Greentape will provide necessary monetary support to your family members during this difficult period through its enhanced Moneyorder and our exclusive Angel service ensures your family members sail through this test of time smoothly. 

Features of Greentape:

1. Greenbox Service:

In Greenbox service, one can store basic investment information in a highly secure digital account. Greentape allows one to store your personal and financial information digitally using a secure digital account which can be accessed through Web or Android mobile application. Customers need not have to compulsorily keep any softcopy or hardcopy with Greentape. Confidential information is shared with the selected nominees in the event of the individual’s demise. Understanding the importance of protecting customer’s data, Greentape uses following mechanism to make its system more robust.

  • 256 bits SSL protection from GeoTrust.
  • End to end encryption of key information fields
  • Malware and virus protection from Norton internet securities.
  • ISO 27001 certified private data cloud server of DigitalOcean.
  • Maker-Checker mechanism (2 step authentication)
  • No access to financial data without OTP authorization from customer.
  • Activity Log which captures every single activity in customer’s account.
  • No rights to Greentape to export, download or print customer’s data.

2. Moneyorder Service:

In most cases, when families lose their bread-winners, they undergo turbulence on the financial front. In country like India, where 60% of family have single earner, women get limited amount of money on monthly basis for meeting demands of groceries, routine expenses etc. Majority of money remains with earning person which he keeps into either saving accounts or different investment instruments. Under such circumstances, women is left with limited amount of money before she gets claim amount from financial institutions and quite often, she resorts to other friends and relatives for financial support, which can become extremely embarrassing for the aggrieved. This problem is compounded by the lengthy claim settlement process which takes around 4-6 months. Moneyorder solution is there to address this problem. Greentape’s Moneyorder provides assured interim financial support to the families of the aggrieved immediately in the event of an unfortunate loss. By availing this service, you can ensure that your family remains independent even in your absence, and there by safeguard their self-esteem. In existing financial system, where nominee needs to furnish various documentation processes and formalities to claim investment benefit amount, Greentape’s money order service initiates with mere confirmation of demise of customer without any document like death certificate etc. which helps nominee to get required support on immediate basis.

3. Angel Service

The investments made during our lifetime, go a long way in supporting our families when we are no more around them. While reaping benefits of some investments is easy, in most cases, aggrieved nominees face a daunting task in unlocking investments made by their loved ones. From procuring a death certificate to realizing life insurance, the process of claiming or realizing each investment is extremely cumbersome. Greentape users can appoint an ‘Angel’ who can help their families from such trouble. Greentape’s angel provides personalized assistance to the nominees and helps them in settling the investments. Our angels use their financial expertise to complete all documentation and processing of investment settlements on behalf of the nominees. At the comfort of their home the nominees will benefit from the deserved claim amount in the shortest possible time.


Greentape is a comprehensive solution to ensure that the beneficiary of your investments could get complete information about your investments at appropriate time chosen by you, see through the difficult times, and secure deserved benefits in shortest possible time. To know more about them at or download GREENTAPE mobile application through playstore.


This data is for Academic purpose only. The data published on this post is just my opinion, based on my own research and analysis and is provided as a general market commentary. As it does not take into account of your personal circumstances, please do not trade or invest based solely on this information. By Viewing any material or using the information within this post you agree that this is general education material and you will not hold any person or entity responsible for loss or damages resulting from the content or general information provided here. 


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