Gold loan company Muthoot Fincorp has announced the launch of a new Android-based mobile app that allows users to consolidate their jewellery assets virtually at one place.

The tech-savvy app - My Jewel Box - also enables users to weigh up the current value of gold assets in just a few seconds. It mentions the per-gram-rate as well as total weight of the gold assets in seconds.

Describing the app, Muthoot Pappachan Group Director Thomas George Muthoot said, "The app is a very tech-savvy option to store gold jewellery on a virtual platform, and enable our customers to assess the value of their gold jewellery in a few seconds."

In addition, the mobile app lets gold consumers to click pictures of their gold assets and categorize them in various segments like rings, bangles and necklaces.

Mr. Muthoot claimed that added that the Android version of the app had been producing encouraging results, and that an iOS version would also be rolled out in the future.

He also said that My Jewel Box app is a part of Muthoot Fincorp's efforts to provide its customers with innovative products and new age services.

The app gives top priority to users' data. Any information or data about users' jewellery is stored only on their handsets. Thus no other person can access the data without the permission of the owner.

The app can be downloaded from Google Play.