{"id":22007,"date":"2020-01-21T15:31:44","date_gmt":"2020-01-21T14:31:44","guid":{"rendered":"https:\/\/www.intellias.com\/?p=22007"},"modified":"2023-04-06T15:41:58","modified_gmt":"2023-04-06T13:41:58","slug":"comprehensive-personal-finance-management-tool","status":"publish","type":"post","link":"https:\/\/intellias.com\/comprehensive-personal-finance-management-software\/","title":{"rendered":"Comprehensive Personal Finance Management Software"},"content":{"rendered":"

Business challenge<\/h2>\n

Our client, a Swiss FinTech company that provides personal finance platforms, decided to build a comprehensive application for its customers to track, understand, and control their financial health. The point of this unified platform was to help bank customers set financial goals and create actionable strategies to reach them based on money flows and account balances.<\/p>\n

Our client previously worked with another service provider. However, they decided to turn to Intellias as a reliable technology partner that could take their project to an entirely new level. Aiming to become a neobank, our client wanted to restructure their development processes. Intellias committed to integrate quality assurance practices in order to inspect the existing infrastructure and implement up-to-date technologies to deliver a feature-packed platform. Our expert engineers enhanced the project and ensured a long-term cooperation between Intellias and the Swiss company with financial software solutions<\/a>.
\n\"Comprehensive<\/p>\n

Solution delivered<\/h2>\n

In Switzerland, residents tend to have lots of financial accounts: credit, checking, insurance, loans. These accounts are often in different banks \u2014 for instance, an insurance company may cooperate with one bank while a person works with another lending platform<\/a>. People often find it difficult to manage their finances in general, and coping with so many different accounts makes things even more challenging. Our client\u2019s personal financial management software had to tackle these issues, and Intellias\u2019 engineering capacity made it possible.<\/p>\n

We transformed our client\u2019s platform into a personal finance management system<\/span><\/span> for categorizing expenses and controlling budgets. We also created a unified finance coach to help Swiss clients handle their money streams and expenses. The application controls each account, offers budgeting based on categories and periods, and allows users to set financial goals.<\/p>\n

Two-factor authentication<\/b>
\nThe Intellias team implemented two-factor authentication (2FA) based on PSD2 regulations. We developed a highly secure authentication algorithm by fully encrypting and protecting bank clients\u2019 personal data.<\/p>\n

Intuitive UX<\/b>
\nWe enabled app users to check their daily card balances and define the categories they spend the most on.<\/p>\n

Third-party integrations<\/b>
\nOur client’s personal finance app integrates with third-party vendors, allowing users to upload a list of transactions so the application can categorize expenses automatically. This feature helps users precisely categorize spending.<\/p>\n

Budgeting tool<\/b>
\nIntellias experts also developed a budgeting tool. An algorithm plans a user\u2019s budget for the upcoming month based on data collected during previous months.<\/p>\n

Integrations with financial institutions<\/b>
\nAnother feature we implemented in the financial management application<\/span><\/span>\u00a0was the opportunity to integrate accounts from external financial institutions. This feature allows users to set up recurring payments within the application, such as for Netflix subscriptions and monthly utility fees.<\/p>\n

Health score<\/b>
\nWe developed an algorithm that allows users to track their financial health scores and plan their budgets accordingly. With this algorithm, our client’s personal finance management software shows how \u201chealthy\u201d users are financially based on monthly spending, investing, and credit card use.<\/p>\n

Gamification<\/b>
\nWith dozens of personal finance management <\/span><\/span>apps and budget trackers on the market, our client\u2019s application had to offer some new features to stand out and attract users. We decided to tap into gamification, giving users points for specific achievements. Based on statistics collected within a set period of time, users receive bonuses and can make it to the list of top app users.<\/p>\n

Business outcome<\/h2>\n

Our cooperation has resulted in a comprehensive personal finance app<\/span><\/span> that has brought our client\u2019s existing application to a completely new level. Intellias has developed both iOS and Android versions of the application to cover the lion\u2019s share of the market. We\u2019ve also built a QA process from the ground up to ensure the newly developed personal financial management software works faultlessly and offers a positive user experience.<\/p>\n","protected":false},"excerpt":{"rendered":"

We\u2019re building an all-in-one application to manage all personal bank accounts, from deposit to credit <\/p>\n","protected":false},"author":15,"featured_media":57840,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[5],"tags":[75,40,13],"acf":[],"yoast_head":"\nComprehencive personal finance app for managing multiple accounts<\/title>\n<meta name=\"description\" content=\"Intellias built an all-in-one personal finance app to manage all personal bank accounts and easily plan personal budget\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/intellias.com\/comprehensive-personal-finance-management-software\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Comprehensive 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