Emma Technologies Ltd began rolling out invites for priority access to the app to thousands of pre-registered users this week, after the app launched successfully on iOS and Android earlier this year.
The mobile app allows users to avoid overdrafts, find and cancel subscriptions, track debt and save money. According to Emma’s CEO and co-founder, Edoardo Moreni, the app can help consumers save up to £600 a year through its focus on decreasing automated outgoings that often go unnoticed.
The platform is the latest in a number of fintechs to jump on the Open Banking bandwagon in the wake of PSD2, with the digital financial management sector beginning to boom. Last week, ING-owned money app Yolt celebrated reaching 100,000 registered users.
“We started developing Emma on a mission to improve people’s financial well being. We are thrilled to on board the thousands who signed up to our wait list,” said Moreni.
“We believe people deserve a private wealth manager that only serves their interests and is able to improve their finances. Open Banking will enable Emma to disrupt the personal finance industry and help consumers save more money.”
