New and improved for 2020
Our brand new app has just gone live on the app store, we are really proud of it and believe it’s a great tool to help you get more from your money. Product Analyst Adam Briggs-Dawson talks you through what’s new and the thinking behind the new features!
Here at Open Money we have been working on a new and improved app to make managing your money work better for you.
As a product team we have spent a lot of time putting ourselves into our customers’ shoes to figure out what the most important and helpful features in a money management app should be.
We’ve been working really hard on making an app that goes one step further than money management. We’re excited to also offer financial recommendations within our app.
We believe that financial advice should be accessible for all, that’s why our app is designed to guide you towards your financial goals. Whether you have £10 or £10,000 - our app could help you make your money work harder for you.
The new app is a real progression from our pioneer app and we are really proud of the result. We’ve improved the on-boarding process, making it very simple to link your accounts and there are lots of new features we didn’t have before.
First of all, we feel that visibility is key. The OpenMoney app allows you to see all of your money in one place. This sounds like a basic concept, but with many people having accounts with different banks, alongside loans, credit cards and investments, it ’s a simple, but sometimes overlooked element, we didn’t want to miss out.
Secondly, saving money should be simple, easy, even fun! We wanted to create a way for you to set up savings goals for yourself and track your progress – and we have done just that!
Our app also gives you the option to set your own budgeting period, specific to your schedule. We know not everyone gets paid on the same day of the month, so set your custom budgeting period and get rid of second guessing.
If you are looking to work down debt, the app has a feature to allow you to set this up as a goal and allows you to track your progress.
You can also see a predicted forecast for the month based on your current spending, allowing you to plan ahead and adjust your spending if needed - so you’re not caught short at the end of the month.
You can also group your transactions together into categories such as dining out, bills etc. This allows you to see what you are spending your money on each month.
The app is more than just money management, it also offers advice based on your spending activity. For example, if you’ve told us that you want to save money, the app will notify you of areas you could be saving. Such as letting you know you’ve spent £20 on takeaway coffees this month.
We also have a new and exclusive partnership with uSwitch, where we are able to proactively tell you if you could be saving money on your bills – starting with energy. This way, we are constantly analyzing your finances for you and you can have the peace of mind knowing it is being taken care of, without you having to lift a finger.
There are lots of great features on this app and we believe it is going to make managing your money, easier, simpler and more efficient than ever.
I am really proud of what our team has created and hope that it will make managing your money easier for you. Let us know on our social media channels what you think of the new app if you’ve tried it, we love to get feedback and new ideas!