Comprehensive Personal Finance Management Software

Business challenge

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.

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.

Solution delivered

In Switzerland, residents tend to have lots of financial accounts: credit, checking, insurance, loans. These accounts are often in different banks — for instance, an insurance company may cooperate with one bank while a person works with another lending platform. 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’s personal financial management software had to tackle these issues, and Intellias’ engineering capacity made it possible.

We transformed our client’s platform into a personal finance management system 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.

Two-factor authentication
The 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’ personal data.

Intuitive UX
We enabled app users to check their daily card balances and define the categories they spend the most on.

Third-party integrations
Our 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.

Budgeting tool
Intellias experts also developed a budgeting tool. An algorithm plans a user’s budget for the upcoming month based on data collected during previous months.

Integrations with financial institutions
Another feature we implemented in the financial management application was 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.

Health score
We 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 “healthy” users are financially based on monthly spending, investing, and credit card use.

Gamification
With dozens of personal finance management apps and budget trackers on the market, our client’s 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.

Business outcome

Our cooperation has resulted in a comprehensive personal finance app that has brought our client’s existing application to a completely new level. Intellias has developed both iOS and Android versions of the application to cover the lion’s share of the market. We’ve 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.