As the first Australian bank to use Open Banking to help people manage their finances, Beyond Bank is excited about the possibilities for its 290,000 customers.
The new Beyond Bank+ app lets customers connect with over 400 financial institutions (including close to 100 Open Banking providers), getting all their finances in one app to help them track their spending, set financial goals and improve their overall financial wellbeing.
This app allows our customers to understand their money better and, in turn, make smart decisions about their financial futureNick May, General Manager Customer Experience (Beyond Bank)
“With cost of living pressures putting many Australians under real stress, it’s important that banks do as much of the heavy lifting as they can to help individuals and families keep a close watch on household budgets,” said Mr Nick May, General Manager Customer Experience, Beyond Bank.
“Our customers are telling us they want easy, everyday banking tools they can trust while staying in complete control of their finances.
“This app allows our customers to understand their money better and, in turn, make smart decisions about their financial future.”
Beyond Bank, as an Accredited Data Recipient, partnered with Frollo because the fintech provides a proven end-to-end technical solution for a wide range of Open Banking uses.
“Partnering with Frollo made sense to us because its technology has a fantastic track record, increasing savings to customers by 11% in the first three months, reducing personal loan debts by almost 25% and improving credit card debt by 13% over six months,” said Mr May.
“It’s great to work with a partner like Beyond Bank with a vision that’s about more than just banking, and whose purpose aligns with ours. We’re excited about helping them use Open Banking to deliver financial wellbeing for their customers,” said Mr Tony Thrassis, CEO, Frollo.