As previously reported, Money Dashboard’s app notably empowers more than 100,000 users to make better financial decisions and achieve their financial goals. It was revealed that 32 million adults in the UK regularly bank online, but very few feel in control of their financials. The firm seeks to fill that gap by pulling in bank statement data from any account in the UK and automatically organize the spending data. The platform’s team stated:
“Customers have the TrueView of their finances, and are able to make better decisions on how to spend their money. The company generates revenue by creating insightful market research from anonymised bank statement data, for example, by helping hedge funds predict revenue announcements of listed companies. Money Dashboard has very quickly gained traction with its target market, and counts the world’s most prestigious asset managers as subscribers.”
In a recent update, the Money Dashboard team announced its new Categorisation Engine:
“To coincide with meeting our funding goal of £1 million today, we’re delighted to be able to release details on our new and improved categorisation engine. One of the things that makes Money Dashboard distinct from the competition is that it owns all the Intellectual Property Rights in its categorisation engine. We are fortunate that our data clients also view the categorisation as best in class. This said, one of our core values as a business is to continuously improve, and every month we analyse and categorise over 5 million new transactions. So far we’ve done this for over 220 million transactions, and this has given us a wealth of insight into consumer spending behaviours and the UK economy.”
Funds from the Crowdcube campaign will be used to expand the sales and marketing team in order to achieve its ambitious growth targets. It is set to close on Sunday.
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