Making Investing in Indian Mutual Funds Easy for NRIs with Indus x Akahu

At Indus, we understand the unique needs of Non-Resident Indians (NRIs) in New Zealand and Australia who want to invest in India's mutual fund market. 

We've built a platform that simplifies this process, thus offering a seamless and efficient way to grow your wealth in India.

1. What exactly is Akahu, and where can I get more info?

Akahu is a New Zealand-based open finance platform that specializes in data connections with NZ banks and other financial service providers. 

This partnership allows Indus to offer you a simpler way to link your bank account to our platform. Once linked, funding your Indus account becomes instant through our Indus app or website. 

Say goodbye to manually entering bank details every time you want to deposit! You can easily manage these Akahu connections within your Indus Personal account. You can discover Akahu in detail. 

2. Why has Indus chosen to integrate Akahu?

At Indus, our goal is to make investing more accessible and efficient for everyone. By leveraging technology, we empower our clients to trade a diverse range of financial instruments across global markets, all within a single account. 

Akahu aligns perfectly with this vision, acting as a key partner in simplifying your trading and investment journey.  

Connecting with Akahu through Indus offers you two significant advantages:

• Effortlessly verify your bank account without the need to upload cumbersome bank statements.  

• Initiate payments to your Indus account directly through the Indus app or website, eliminating the need to switch to your banking app and enter unique references for reconciliation. Funds will appear in your Indus account almost instantly.

3. How do I link my Indus account with Akahu?

For a comprehensive, step-by-step guide on connecting your Indus account to Akahu, please click here.

4. Will I need to reconnect to Akahu every time I want to add funds to my Indus account?

Not at all! Once you've established the connection, it remains active. You can manage this connection conveniently within the settings of your Indus app.

5. What kind of data and access is involved in this linking process?

When you choose to link your account via Akahu, Indus will collect the following necessary information:

• Identity verification: Your name and address associated with your linked accounts, ensuring it's indeed your bank account.  

• Account details: Information such as your account balance, name, and number. This allows us to confirm you have sufficient funds for your deposit.  

• Payment initiation capability: To enable you to send payment requests directly through the Indus app or Personal Centre.

For a deeper understanding, please refer to Indus's Privacy Policy and Akahu’s Privacy Policy.

6. Can you explain how this actually works behind the scenes?

When you link your bank account through Akahu, a token is generated to access your account in order to fetch the data referred to above, and to initiate payments in accordance with your instructions. Importantly, your bank login credentials are never stored. 

When you initiate a payment via Indus, we securely transmit the payment details to Akahu. Akahu then uses the generated token to initiate the payment from your connected bank account. This token is stored with robust security measures and cannot be used to retrieve your original login details.  

7. How do Indus and Akahu work together to safeguard my data?

Indus employs advanced security and encryption technologies throughout the login and trading processes. Our rigorous internal control system is designed to effectively prevent unauthorized external access to your private information and transactions.  

Akahu is independently certified as compliant with ISO 27001:2022, a global standard for information security management. They utilise 256-bit AES bank-grade encryption alongside modern cloud infrastructure (AWS), thus benefiting from their world-class security controls. 

To sum up, we use stringent and effective measures to safeguard your data.  

8. Who is eligible to use Akahu with Indus?

Customers who bank with the following New Zealand institutions can connect via Akahu: ANZ, ASB, BNZ, Westpac, Kiwibank, Heartland, TSB, and the Co-operative Bank.  

To connect, you'll need your online banking login credentials for the relevant account, and that account must be accessible through your bank's mobile application.

Please also be aware that your individual bank account may have daily transaction limits, so ensure these are sufficient to cover your intended payment amount.

Please note that accounts that require dual authorization are not currently compatible with Akahu. For these accounts, you'll need to use one of our alternative payment methods.