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Frollo brings Open Banking to Android

Wednesday 20 January 2021 13:33 CET | News

Australian fintech company Frollo has launched Open Banking on Android with their new budgeting app.

The Frollo app, a way for consumers to turn around their finances, has received a major update on both Android and iOS to bring new features to Australians.

One key feature many Australian Android users have been waiting for, is Real time transaction insights using Open Banking (CDR) account linking. Back in July 2020 Frollo was the first to go live with Open Banking in Australia, when it launched their new iOS app. From today, Android users in Australia can also enjoy the many benefits of CDR, like increased security, real time updates and better insights.

Further leveraging Open Banking data to help its users get a better deal on their finances, Frollo is rolling out product comparison and Next Best Product (both in beta). For example, by combining users’ financial information like account balances, with information about interest rates for all available savings products in Australia, it’s possible to provide a product comparison that shows users the actual impact of a product switch.

This comes after the Frollo app was first to introduce real time product information (powered by Open Banking) in October 2020, to help users better understand their rates, fees & benefits.

The new Frollo app introduces a number of new features bringing automation and personalisation to the app. 

  • Budgets are now completely customisable, to suit the individual needs of users: Budget cycles can be adjusted to match paycycles, users can set multiple budgets and they can set them for spend categories.
  • Users can now link a goal to an account and let Frollo automatically track their progress. For example, if a user is saving for a house deposit on a separate saving account, Frollo will keep track and share updates along the way.
  • Advanced Search & Filter introduces keyword and merchant search within specific date ranges, amounts, accounts, categories or even custom tags. 
  • The new Frollo app also comes with many UX / UI improvements to make it easier to navigate the app, find, read and understand the information.
  • And, to further personalise the app, the dashboard is now customisable. Users can decide for themselves what information they want to see, and in which order.

 


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Keywords: Frollo, Open Banking, Android, fintech, finance, data
Categories: Banking & Fintech | Online & Mobile Banking
Countries: Australia
This article is part of category

Banking & Fintech