Money Dashboard has announced it will soon release of a new platform that will enable users to store all their banking information in one place to help better manage their money.
The Edinburgh-based fintech says it’s ‘Money Dashboard Neon’ app allows a user to connect current, savings and investment bank accounts and credit cards together to help them save and build a “financial safety net”.
The platform contains features such as Balance After Bills information, the ability to make instant payments between accounts held in different banks and the option for consumers to open new savings accounts, and secure loans, from within the app. These features will be available later on after release. The company claims that users can save up to £2,160 per year using the platform.
Steve Tigar, Money Dashboard CEO commented: “It’s heartening to see the success our users are having in saving, particularly in such uncertain times. We’re excited to launch our new all-in-one platform to help even more people build their rainy-day fund.”
“This starts with spending smarter, not necessarily spending less. And knowing your available balance at all times is fabulously helpful in making good everyday spending decisions and staying on top of your money.
“We believe this new platform will help birth a new generation of savers.”
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Neon potentially comes at the right time, as the Bank of England recently warned of a doubling of unemployment across the UK to around 9%, despite many seeing their income unaffected during the lockdown period.
This puts people in a difficult financial situation, and banking app technology could be a way to help people weather the Covid-19 storm.
The app is available for free on App Store, Google Play and web for desktop users.