Money Dashboard, a UK-based online personal financial management service, announced on Friday it has formed a new partnership with AI-powered savings app Chip. Money Dashboard reported that it has selected Chip as the place for users to store their spare cash.
“For those who don’t know about Chip, they help people build up savings pots by squirreling away small amounts over the course of the month based on an algorithm that works out how much you can afford to save. Similarly to Money Dashboard, it connects straight into whichever bank you’re with and works its magic using the data from the transactions you make. “
Money Dashboard also revealed when users connect Chip to Money Dashboard, they will be able to view their overall Chip savings balance in real time and watch their savings grow and their Chip savings will be listed alongside savings accounts they hold with other providers.
As previously reported, Money Dashboard’s app empowers over 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.
“We’ve been helping people master their money since 2010. Today, we proudly serve over 200,000 users who have established us as one of the UK’s leading money management apps. We connect to 60+ financial institutions so users can connect all their accounts in one place to track spend, plan ahead, and achieve their goals.”
Meanwhile, Money Dashboard has been seeking funds through equity crowdfunding platform, Crowdcube. The company quickly secured its initial £1.5 million funding target and has surpassed £2.6 million. The funding round is currently set to close at the end of June.
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