Budgeting app Buddy partners with Klarna Kosma

With over 3 million users, Buddy seeks to provide a simple way to build and share budgets, track expenses, and understand overall financial health. The app has reportedly become the most popular of its kind in countries such as Australia, Canada, Denmark, France, the Netherlands, Sweden, and others, and the second most popular in the US, according to the official press release.

Through this partnership, Buddy users can connect their bank accounts to the app to automatically track expenses, monitor spending, and set up payment reminders. Klarna Kosma provides Buddy with secure access to 15,000 banks in 27 countries around the world through a single API, allowing users to track expenses and gain valuable insights into spending habits.

According to the CEO and founder of Buddy, the app’s mission is to empower young people with the knowledge of how to spend and save sustainably. He further added that through this integration, Buddy is helping individuals gain control of their finances by offering an easy-to-use, intuitive budgeting app that connects directly to their bank feed, which results in much better budgeting visibility.

The VP for Open Banking at Klarna Kosma expressed excitement about joining forces with Buddy to make budgeting simple and fun for Gen Z and millennials. He also shared that with Kosma's help, Buddy could create a better consumer experience, resulting in 52% more monthly active users for the Personal Finance Management app. The VP further added that it is fantastic to welcome Buddy to Kosma’s platform and looks forward to being part of their future growth and continued success, helping even more users to shore up their finances.

Overall, this partnership between Buddy and Klarna Kosma provides an opportunity for users to take control of their finances by utilising a budgeting app that tracks expenses and offers valuable insights into spending habits. With secure access to a large number of banks worldwide, Buddy is set to become more popular among young people who are looking to better manage their finances, the official press release concludes.

Klarna Kosma was a contributor to the Open Banking and Open Finance Report 2023. We encourage you to download the report to read the interview with Klarna Kosma's DACH & CEE Lead – Open Banking.