CLICK TO WATCH : ‘ NBS VENTURES – MONEYHUB ’ 35 like a bit of an up-hill task . That ’ s where money management platforms are able to play a key role .
Firstly , they help users get to grips with their finances . Powered by open banking , users are able to see a single picture of their financial world , rather than having to piece together fragments . Not only does this reduce needless and paperwork , but it also enables the effortless tracking of their expenditure . Having this level of oversight empowers them to make smarter money decisions , and clearly
see how they can make their money work harder .
What can really make an extra difference is the incorporation of AI and smart nudges . These hyper-personalised nudges can be surfaced at key points of financial decision-making . For example , a user might use Loan to Value ratio nudge to alert when deals not previously available can be considered , or a Micro Saving nudge can be generated if utility bills are lower than normal or if the weekly shop costs less than normal . Such
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