Keeping your finances in order can be tough to do. You probably have a pretty good understanding of where your finances stand from month to month, but wouldn't it be nice if you could not only track your finances but see your financial forecasts for the rest of the month and the upcoming future based on your current spendings and earnings as well? An innovative new application Bankity (founded by Diego Guzman, a Graduate of the Medellín Founder Institute) is capable of doing all of this and more. Since Bankity launched in it currently has more than 70,000 downloads is very popular in Mexico, Colombia, and Argentina, and is now available for US users to try in the beta phase.
Breaking into the United States market is very important to the Bankity team. It offers them more users and as result will lead to enhancements on the application. It also is a great way for them to start monetizing the application. When Bankity first appeared in Latin America it was primarily focused on tracking and reporting a user's budget. It basically told you how much you had spent and were spending. Now that Bankity is coming to the United States the team has changed the approach of the application. Instead of focusing on budget, Bankity is now focusing on saving. They will accomplish this by informing users how much money they are saving based on their consumption habits rather than just simply informing them how much money they have spent. The difference in this information will allow users to make more complex financial decisions regarding savings and investments.
Let's take a look at how this incredible application functions so we can get a better idea of how immensely valuable this tool is. When making a profile on the application, users define a monthly budget. With the information of total budget in place the application proposes how much expenses should be in terms of a number of different categories such as family, food, financial expenses, health care, entertainment, sports, beauty, technology, education, and so many more. Once the application is set up to receive notifications from your banking institution it uses the numbers above and compares them in real-time to your actual spending. From here the application will tell you how much money you stand to save in any given month and then compares this information from previous months so you now if you are saving more or less than used to be. With the detailed reports that Bankity provides its users you will be able to make informed financial decisions.
The great thing about Bankity is that you don't need to be with a certain bank for the application to work for you. Banality works with any banking institution that provides its customers with notifications. The best part is that Bankity is secure, and you never have to provide your passwords or sensitive data to the application to sync your notifications to the app.
Bankity is an incredible application with tons of room for growth. Already the app is very popular in Latin America and the application is only getting stronger as it begins to monetize and enter the United States market. US users can try Bankity for free in the Beta phase of testing and improvements that is currently taking place. The application is supported on iOS and Android operating systems.
Saving money can be challenging some months and keeping track of all your different expenses can be a headache. Bankity makes it easy to track your finances and view your expenses all in one single place.
