FINMATEX: Personal Finance Management App

Technology domains

Cloud Solutions | Mobile | Big Data and Analytics | AI

Banking & Finance

FINMATEX: AI-Powered Fintech Platform FINMATEX: Personal Finance Management App Online Trading Platform

In the age of digital technology, face-to-face customer service is losing its importance. And the banking industry is no exception. Today's customers prefer to manage their finances on the go rather than waste time in long lines in bank branches. They value their time and need easy-to-use banking solutions that would match their lifestyle. To meet the needs of tech-savvy customers, financial institutions are going digital, making customer service available 24/7 from the comfort of one's personal device.

FINMATEX: Personal Finance Management App

Living paycheck to paycheck is quite common these days. And it's not just about overspending. Unpredictable income, low wages, and high costs for health care, utilities, insurance, and education are the reasons you can suddenly find yourself living on the edge financially through no fault of your own. Even people with high income tend to spend the entire paycheck without squirreling any money away for emergencies like medical expenses or unexpected job loss.

Online Trading Platform

Despite the growing popularity of online trading, many traders, especially beginners, still opt for traditional trading. They appreciate the live communication with brokers and feel more confident and secure because they can always get help and advice from a professional.More experienced traders, on the contrary, prefer online trading because of its lower cost and the possibility to trade 24/7 without additional fees.

Challenge

Living paycheck to paycheck is quite common these days. And it’s not just about overspending. Unpredictable income, low wages, and high costs for health care, utilities, insurance, and education are the reasons you can suddenly find yourself living on the edge financially through no fault of your own. Even people with high income tend to spend the entire paycheck without squirreling any money away for emergencies like medical expenses or unexpected job loss.

But technology can help break the cycle of living paycheck to paycheck. Modern fintech solutions can accelerate your journey to financial freedom. They thoroughly analyze a user’s income, spending, and financial behavior to provide personalized, data-driven savings recommendations and create individual budgets.

Solution

Softarex has developed FINMATEX — a mobile app for personal finance management.

It’s a powerful tool that allows users to:

Manage all their accounts — cash, checking, loans, and investments — in one place;
Keep track of their spending by splitting transactions into categories automatically;
Set spending limits and get notifications when they exceed them;
Build their own budget or use the individual budget created by the app based on the analysis of income and expenses for the past 12 months;
Set financial goals and track their progress;
Get detailed reports on their income, spending, net worth, loan payments, interest, investments, and more.

Project’s results

Online Banking App developed by Softarex produces the following benefits to users:

24/7 access to the personal account and bank operations;
More informed spending decisions;
Maximized savings.

Technical challenges

Ensuring data security;
Data encryption.

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Meet our
experts

Meet our experts 1/2

Dmitry

Financial & Fintech expert, Co-founder and CSO of FINMATEX

I have close to 25 years of experience in the stock market. Prior to Softarex, I worked as a division manager and CEO in brokerage firms. I was involved in consulting, analytics, trading, risk management, the development of trading robots and IT platforms, and employee training. At Softarex, I’m in charge of the development of the FINMATEX project and the entire Fintech direction of the company. My professional interests lie in financial derivatives, portfolio management, and risk assessment. I consider it my social responsibility to assist people in personal financial management and investing.

Peter

Product Manager, Banking expert

Before joining Softarex, I worked in a bank for 10 years. I was responsible for creating and developing products that help automate day-to-day business processes. Softarex has given me the opportunity to dive deeper into the technical side of finance and banking. As a Product Manager, I’m in charge of the entire product launch cycle — from an idea to product implementation. It’s my job to identify customer needs, analyze competitors, define product strategies, and draw roadmaps of products. So I do the biggest part of my work long before the first line of code is written.

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