SAN FRANCISCO--(BUSINESS WIRE)--Wally, the world’s highest-rated personal finance app on iOS, announces today the all new Wally+; a lifestyle approach to personal finance. Built by millennials for millennials, Wally helps you compare your income to expenses, understand where your money goes, set and achieve goals, and keep track of the details as you spend, including where, when, what, why and how much.
“Millennials are often juggling multiple accounts, various payment methods and different forms of debt. Wally+ offers a single source to view their behavior and develop new plans holistically,” says Saeid Hejazi, Wally founder and CEO. “Unlike other personal finance apps, Wally does not require any details about your account numbers or banking passwords to work.”
Wally launched in 2013 on the iPhone where it maintained a global average 4.7 out of 5 stars in the Apple App Store, became the #1 finance app in 22 countries, and reached the top 10 in 52 countries (with India, China and the U.S. as the top three markets). Consumers and reviewers alike have praised Wally’s use of machine learning to adapt to user behavior, giving people real-time insights into their spending patterns.
With Wally+, people can quickly, easily and privately take charge of their finances. People can:
- Gain unprecedented insights by understanding how they spend contextually, with who and where, alongside categorical breakdowns
- Focus on the moments surrounding expenses by tagging the people they were with and adding pictures, turning expenses into experiences
- Use bank-less management and avoid giving up their bank’s username and passwords as with existing tools
- Take advantage of location-based speed to automatically identify and categorize expenses for an intuitive experience
Using the power of its community, Wally+ uses aggregated, anonymous data from similar users to give unprecedented context. Most financial tools tell you if you spent 15% of your income on dining out but Wally+ goes further. It uses these peer comparisons to answer questions like, “Are my spending patterns typical?” or “Do I save more or less than people like me?”
Due to the financial crisis during their coming-of-age years, American millennials are deeply distrustful of current financial institutions. According to research:
- 70% say they have a total lack of confidence in banks
- 67% say they will never invest in stocks
- 67% say their existing financial experiences are “not at all seamless”
- 48% would like more spending analysis and forward-looking recommendations from their banks
This generation is the most fiscally conservative since the Great Depression, keeping over half of their money in cash (compared to their parents generation, which holds 23% in cash and the rest in stocks and other financial products). Although two-thirds try to stick to a budget, American millennials are unhappy with existing products and services.
Wally’s mission is to empower them through insights and knowledge.
Wally+ is available in 18 languages on the Google Play Store here.
About Wally
Wally is the world’s leading lifestyle app for insights into how your money behaves. Wally first launched in 2013 on the iPhone where it maintained a global average 4.7 out of 5 stars on the Apple App Store, became the #1 finance app in 22 countries, and reached the top 10 in 52 countries (with India, China and the US as top markets). Wally has been lauded by users and critics alike for using machine learning to adapt to user behavior, giving them real-time insights into their spending patterns, and using a design driven approach.
