Budgetting app Emma is to expand its portfolio of services to include free stock trading, crypto, P2P payments, high interest savings accounts and credit scores.
Emma customers currently use the app to track and manage their day to day spending.
Launched three years ago, the company currently counts 600,000 customers in the UK, US and Canada. The app has analysed more than £100bn+ worth of transaction value so far and 10% of the current monthly Open Banking traffic in the UK is attributed to Emma.
On the plans to expand the product set, Edoardo Moreni, CEO of Emma, states: "Our plan has always been to bring access to financial services closer to our users. We are thrilled to be able to release commission free trading later in September alongside cryptocurrencies and commodities.
"Investments will be just one of the many verticals we’ll fully integrate in Emma. Our customers will also be able to send and request money to their friends, access their credit score in the app and save with top leading market interest rates."
The trading platform will feature stocks from public companies from the UK and the US as well as various ETFs. Customers will also be able to invest in cryptocurrencies and commodities by the end of Q4.
Moreni says the savings account will be able to return up to 5% interest rate via cryptocurrencies. In Q1 2022, users will also have their credit score in the Emma app.