NatWest updates app with money management features
Written by Peter Walker
Customers using the NatWest app will now be able to see where their money is going with the new ‘spending’ tab which will show categorised outgoings from their current account.
Using Opening Banking-enabled Application Programming Interfaces, the app already shows customers all of their accounts in one place, including their mortgage, savings, loans and current accounts.
The bank stated that soon users will be able to tell the app how much they want to spend each month and it will tell them how much they will save over the year if they stick to that budget.
The app features are built on technology provided by Tink, chosen due to its experience of developing user-friendly finance apps for banks and FinTechs across Europe.
NatWest’s chief digital officer Frans Woelders said: “We know that the more engaged customers are with their money, the better their financial health – the new ‘spending’ feature gives customers insights into their spending habits with real-time data, to help them make informed financial decisions.”
To learn more – please read the 2019 Digital Trends: Financial Services in Focus report. Download here