Money Manager in Wallet

By: Bank of Baroda
Thu Dec 3, 2020
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Managing your money isn’t the easiest thing to do. In the present times, manual tracking of account balances, expenses have ceased to exist especially amongst the younger generation. Personal finance apps can connect with your bank account and help you keep track of your spending. Not only that, these apps can help you pinpoint areas that you’ve been overspending, track upcoming bill payments (some allow you to pay your bills directly through the app), monitor your credit score and investment portfolio etc.

Cashfree, Bangalore based startup, is a payments and banking technology company that enables businesses in India to collect payments online and make payouts. Cashfree enables more than 50,000 businesses with payment collections, vendor payouts, wage payouts, instant loan disbursements, e-commerce refunds, insurance claims processing, expense reimbursements, loyalty and rewards payments etc. Cashfree customers include leading internet companies such as Cred, BigBasket, Zomato, Ixigo, Acko, Zoomcar and Delhivery among others.

AssetVault, London based startup, allows customers to catalogue all their physical and digital assets in one secure register so that they can catalogue, protect and unlock value of their assets. Physical assets include property, vehicles, jewellery, art etc. and digital assets ranging from shares across multiple markets and exchanges, startup investments, peer to peer loans, etc.

Another Bangalore based startup, Khatabook, operates an app with AI/machine learning that allows micro, small and medium-sized businesses to keep a digital log of their financial transactions and accept payments online. Businesses can manage their credit accounts on the app, where transactions are recorded and available for review. It shares WhatsApp and SMS reminders to users when the money is due to be paid or collected. The app also provides support in regional languages. It helps businesses understand and make better decisions with reports that it generates. The app also provides back up support of all transactions online automatically, so that merchants don’t have to worry even if they lose their smartphone.

ClearTax GST empowers MSMEs, Large enterprises and Chartered Accountants to manage their compliance and maximize tax savings. Since the launch of GST, ClearTax has equipped MSMEs with data-formalization via Invoicing, GST filing, E-way Bill and soon E-invoicing. ClearTax GST software saves taxes with the help of an AI-powered reconciliation module and reports.

Technology offers you the chance to understand your finances and improve your money management skills. Find the right money management app to match your style and watch your situation improve. There are various apps out there that help you manage your money better, few more will be discussed in next article.

Credits : Akhil Handa

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