Do you know someone who is good with money? It’s like they always know exactly what to do to invest and make their money grow. Ah, money! Can’t live without it, but it doesn’t manage itself…or does it?

With the emergence of smart financial apps and technology, smart saving and spending are becoming more accessible to the rest of us. And that’s just what people want. According to research done by major agencies like Deloitte, the demand is rising for digital solutions in payments and finances.   

And mobile is the missing piece. According to a study by Zogby Analytics, 54% of Millennials would pay for items with their mobile device as a mobile wallet instead of credit cards and cheques if those services were made available to them.

Speaking of mobile wallets, Quppy started out strong with a multicurrency wallet and payment app, but our team is working non-stop to drop new features every year. Our vision is to become a one-stop shop for financial services. And we’re already doing great with multicurrency IBAN accounts and cryptocurrency wallets all rolled into one clean interface. (That’s right, crypto is NOT an afterthought here!) But our vision doesn’t stop there. 

We want our users to have access to the same great advice and market data that used to be reserved for people who hired financial advisers. So here are some up-and-coming features we’re excited to share. Let’s start with our robo-advisor. 

What is a robo-advisor?

Think of it as an automatic finance coach! Or, if you prefer, a guardian of your financial well-being. 

Technically speaking, a robo-advisor is a smart algorithm that gives you advice to help balance your portfolio, or even make transactions for you, with your approval, of course. Robo-advisors base their decisions on your investing goals, risk profile, and basic investing information. An initial survey about your goals and Artificial Intelligence help robo-advisors learn your financial habits, help you better those habits, and take actions that help you save money in smart ways. 

Why people love their robo-advisors

Big investment banks are already using Robo-advisors as a lower-cost alternative to human advisors. Outside of investment banking, robo-advisors can help you make smarter everyday transactions. For example, if you receive a monthly salary or payment in Euros, and put a certain amount of that money in a US dollar EFT, your robo-advisor will recognise that habit and help you do it automatically.

Plus, robo-advisors can go further to help you save money by, for example, only making this transaction when there is a maximum, favourable EUR-USD exchange rate. Maybe that’s only a $5 difference today, but imagine having that kind of power across all of your transactions! It adds up quickly.

Why a hands-off approach might be the best option

We humans are an emotional bunch! We tend to make in-the-moment decisions when it comes to our money. And although investing always involves risk, time after time, economic experts say that long-term thinking is a more secure way to invest. We know it isn’t easy. That’s where an advisor, human or digital, can act as the “head” to balance our “hearts”.

Did we mention it’s automatic?

Some days it feels like time is the most valuable asset of all. If you know you should be saving money and focusing on investments, but you don’t want to have to read the Financial Times every day, robo-advisors are one way you can incorporate smarter finance decisions into your life… without lifting a finger! Quppy’s robo-advisor will use AI to learn about your habits and make the right decisions and recommendations for your financial profile.

Bonus! Other Quppy features to get excited about

Quppy account aggregator

What? You’re using accounts from other banks and apps!? It’s ok, we won’t judge. 

But we can help you see the big picture with our account aggregation feature, set for release in late 2022. Just open Quppy to see a snapshot of all the account balances in your portfolio. One password, one app, one view. We like to keep it simple. 

P2P lending 

Quppy is also on track to put lending in the hands of the people. P2P (peer-to-peer) lending means that people can get small loans and financing without the approval and paper trail of a bank loan. That means you don’t need to have a high and steady income to get access to the funds to start the next chapter of your life. 

Prepaid payment card

We admit it isn’t quite so digital, but our payment card is on the way. We recognise that there are times when you simply need a physical card to make payments. Get on the waitlist to get your card today.

Quppy vaults

Set some money aside in easy-to-use vaults, where you can save money in your favourite currency, in a safe sub-account, separate from the IBAN account that you do your spending from. It’s a great way for freelancers to set aside money for taxes, create a “cushion” of savings, just in case, or even easily see how you’re progressing towards purchasing that cool new bike. Your vault is your space to keep a firm eye on your savings.
Do these features sound useful? Sign up for our newsletter to stay in touch on the great features we already have, plus more new releases in the future. Quppy assists you in managing your money as effectively as possible.