Gen Z budgeting app Buddy partners with Klarna Kosma to double active customers
The Stockholm-based personal finance app is making it easier for young people to take control of their finances.
Gen Z and millennial budgeting app Buddy is partnering with Klarna Kosma to enable automatic budget tracking.
The personal finance app, designed to help young people build and share budgets, track their expenses and learn about financial help, has more than three million users and has seen a 52 per cent increase in active customers with Klarna Kosma.
Users can now check their account balance in real-time, monitor their spending and set up payment reminders through the Buddy app, with Klarna’s financial technology platform adding another level of security.
“Buddy’s mission is to empower young people with the knowledge of how to spend and save sustainably,” Buddy founder and CEO Olle Lind said.
“Through this integration we're helping individuals gain control of their finances by offering an easy-to-use, intuitive budgeting app that connects directly to their bank feed, helping them to manage their money during this difficult financial period and beyond.
“We’re giving users peace of mind in knowing that their Buddy app is always up-to-date, which results in much better budgeting visibility."
Customers are now able to connect their bank account(s) to the Buddy app, which enables Klarna Kosma to run in the background.
The sub-brand of Klarna provides apps such as Buddy with secure access to 15,000 banks in 27 countries around the world through one API.
“We are excited to be joining forces with Buddy to make budgeting simple and fun for Gen Z and millennials,” Klarna Kosma VP for open banking Wilko Klaassen said.
“With Kosma's help, Buddy could create a more smooth consumer experience, resulting in 52 per cent more monthly active users for the Personal Finance Management App.”