PFM PERSONAL FINANCE MANAGER

The Personal Finance Manager is an extensive system enabling easy understanding of a complexity of finances and gives customers a firm grasp of their income and costs, as well as checking cash flow. It includes a variety of features and functions, thanks to which customers can easily manage their own finances and banks can gather information about users. PFM can be implemented in the structure of a digital banking system or distributed as a separate application.

PFM guides customers through the complex world of finances. Using it, customers can easily reach their saving goals, optimize their spending, generate additional income from well-chosen deposits and fully control their expenses by using supportive tools such as the budget manager, finance calendar, or messages and alerts. At the same time, it gives banks the opportunity to aggregate priceless information that after recalculation can be used for upselling new products and services.

PFM KEY FEATURES AND FUNCTIONS:

  • Dashboard – gives customers a summary overview of their finances, current or future cash flow and provides details of the bank’s products and services.
  • PFM with account history – it is linked to a user’s spending history in his accounts, where they would naturally like to check spending.
  • Categorization – it works for every transaction on any account or card by using its description, amount or transaction location (food, fuel, medicines, taxes, etc).
  • Savings goals – if a customer defines their own goals, the application prepares a whole set of incentives to stimulate savings habits, substantially increasing the chances of success.
  • Trends and budgets – PFM provides an opportunity to set up monthly budgets within certain spending categories and automatically captures trends and passes this information on to customers.
  • Financial analysis – reports present income and spending by category and by customer-specified periods of time.
  • Payment assistant – provides the customer with information and helps them carry out planned operations.
  • Alerts – it is possible to define alerts and messages delivered to the customer via e-mail, SMS/MMS or social media, based on different occurrences concerning the customer’s finances.

  • Gamification – using internet banking platforms requires learning; it is most effective to divide information and present it in the form of a game that awakens emotions and ambition.
  • Recommendations – a personalised product portfolio based on detected occurrences, the customer’s current financial situation and forecasts of their financial liquidity.
  • Reports – PFM enables banks to gather aggregated data concerning their clients’ activity, and detect trends.
  • Real Time Marketing – the possibility to create scenarios that provide eligible users with personalised offers in real time.
  • Spending categorization – based on their time, description, and location, with hard–wired algorithms, and system learning based on the history of activities.
  • Ready for Payment Services Directive (PSD2) integration, which enables the use of new features such as data integration from other banks and accounts, an account importer agent with access to transaction history in other banks, a credit score based on internal and external data and even an account transfer agent for transferring an account from one bank to another including all transaction history, predefined money transfers and payees, together with all other parameters.

BENEFITS

Smart analysis and recommedations throughout whole banking experience
The easiness of integration with bank's systems
Easy scalability

REQUEST DEMO

Want to see more, or you have any questions regarding our services?