Frollo, the purpose driven Australian Fintech and leading provider of financial management and Open Banking solutions, has announced a new feature in their budgeting app that lets users check their real time balance using Siri and the company’s Open Banking connections.
Some of the most popular use cases for voice assistants are quick updates on the weather, traffic or the news. A quick, handsfree update on your finances is another handy feature voice assistants could provide. The challenge is to make sure the update is real time and includes all your relevant accounts. Until now, this wasn’t available. Banks can provide a real time update, but only of the accounts you hold with them. Some budgeting apps using traditional methods of account aggregation offer voice powered balance checks, but are only able to present you with yesterday’s balance.
Bringing together Open Banking and Siri, Frollo now launches real time, voice powered balance checks. Users of the Frollo iOS app can activate this feature by saying: “Hey Siri, what’s my account balance”. This triggers a quick balance overview of all their linked accounts on the phone, which they can tap on for more details.
As the only app in Australia offering Open Banking access, Frollo has launched a number of Open Banking innovations over the past 6 months. Using Open Banking product data APIs, the Frollo app shows users the up to date fees, rates and benefits of their financial products. Two beta features the company has launched recently are ‘Next best product’ and product comparison, helping users make the most of their financial products, and switch to get a better deal.
Kris Davant, Head of Product at Frollo: “The opportunity to innovate with Open Banking data is very exciting. Think about the things you can do to help improve people’s finances if you have access to their finances in real time, as well as a deep understanding of financial products in the market - including the products they use.
Our consumer app is a great place to innovate and test new features like these, before we launch them to our PFM platform clients.
We’ve previously launched features that use this data to help people make better decisions, and get a better deal on their finances. Our latest feature is all about convenience. A real time, voice controlled balance check for all your accounts wasn’t possible before, but by using Open Banking and Siri it’s now as easy as saying “Hey Siri, what’s my account balance?”.
The Frollo app is built on the Frollo PFM platform, a SaaS solution that enables businesses to offer their customers a full range of Personal Finance Management tools, via APIs, SDKs or a white label app.