“Using mymo, BCU will enable its customers to have access to a wide array of powerful money management tools. Customers will also have access to financial wellness tools. This will allow users to keep real-time track of their spending and budgeting all in one place. This leads to better financial empowerment.”
BCU Bank, a banking organization based in Illinois, US has unrolled a new personal financial tool named “mymo” by BCU. Frollo built the new financial empowerment tool for individuals, which was unveiled under the Consumer Data Right (CDR) Scheme of the Australian Government as part of Open Banking.
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Using mymo, BCU will enable its customers to have access to a wide array of powerful money management tools. Customers will also have access to financial wellness tools. This will allow users to keep real-time track of their spending and budgeting all in one place. This leads to better financial empowerment.
BCU Bank, General Manager, Mark Smyth said, “Through our research, we know most of our customers give themselves a pass mark for financial literacy; but they don’t have the intimate knowledge around what they should and shouldn’t be looking for. Using mymo by BCU, our customers will be able to keep a better track of their spending, goals, and budgeting to achieve financial empowerment.”
The financial tool comprises features that will help consumers make their money more worthwhile for them. The tool links a consumer’s account throughout all financial institutions safely and securely in one place. Mymo also provides consumers with a complete scenario of their finances intrigued with personalized insights and reminders. This helps them take control of their budget and achieve their financial goals faster.
Frollo CEO, Tony Thrassis said, “We recognize that financial well-being tools are an essential component of the modern digital banking experience. We believe that Open Banking is the key to providing customers with a comprehensive view of their finances.”
“We are thrilled to collaborate with BCU and deliver even more value to its customers by leveraging Open Banking’s potential.”
