Frollo Brings Open Banking To Android

Using the new Frollo app, Australians with an Android phone can finally access Open Banking

SYDNEY, 19TH JANUARY 2021: Leading Australian fintech company, Frollo, launches Open Banking on Android with their new budgeting app.

The Frollo app, the easiest way for consumers to turn around their finances, has received a major update on both Android and iOS to bring new innovative features to Australians.

Rebuilt from the ground up, the new app has significantly improved some of its most popular features to make it even easier to stay on top of your money.

One key feature many Australian Android users have been waiting for, is Real time transaction insights using Open Banking (CDR) account linking. Back in July 2020 Frollo was the first to go live with Open Banking in Australia, when it launched their new iOS app. From today, Android users in Australia can also enjoy the many benefits of CDR, like increased security, real time updates and better insights.

Further leveraging Open Banking data to help its users get a better deal on their finances, Frollo is rolling out product comparison and Next Best Product (both in beta). For example, by combining users’ financial information like account balances, with information about interest rates for all available savings products in Australia, it’s possible to provide a product comparison that shows users the actual impact of a product switch.

This comes after the Frollo app was first to introduce real time product information (powered by Open Banking) in October 2020, to help users better understand their rates, fees & benefits.

Taking budgeting apps in Australia to the next level, the new Frollo app introduces a number of new and improved features bringing automation and personalisation to the app.

  • Budgets are now completely customisable, to suit the individual needs of users: Budget cycles can be adjusted to match paycycles, users can set multiple budgets and they can set them for spend categories.
  • Users can now link a goal to an account and let Frollo automatically track their progress. For example, if a user is saving for a house deposit on a separate saving account, Frollo will keep track and share updates along the way.
  • Advanced Search & Filter introduces keyword and merchant search within specific date ranges, amounts, accounts, categories or even custom tags.
  • The new Frollo app also comes with many UX / UI improvements to make it easier to navigate the app, find, read and understand the information.
  • And, to further personalise the app, the dashboard is now customisable. Users can decide for themselves what information they want to see, and in which order.

Download the app here: https://frollo.com.au/app

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Background information:
● Frollo has over 120,000 users on its platform
● The Frollo app is the only app in Australia powered by Open Banking (CDR), delivering real time transaction updates and increased security
● The Frollo budgeting app is built on the Frollo PFM platform, offering PFM features to businesses through white label apps, SDK and API integrations
● The Frollo Open Banking platform won ‘Best Open Banking platform’ at the 2020 Fintech Awards – it helps businesses access and use Open Banking (CDR) data
● Some of the businesses Frollo works with: BOQ, Virgin Money Australia, P&N Bank, Volt Bank, Suncorp and Traditional Credit Union

Additional resources:
● App launch video: https://youtu.be/rOf5UDiWmkg
● Image assets (screens) and logos: https://frollo.com.au/about-us/media-kit/

For more information contact:

Piet van den Boer
Head of Marketing
Frollo
m: +61 468 375 783
e: piet@frollo.us

About Frollo
Frollo is a purpose-driven Australian fintech on a quest to help people feel good about money. We’ve built the simplest way to help people get their finances on track – and through our business ecosystem, we’re supporting our enterprise clients to do the same for their customers.

Businesses can leverage the market leading features in the Frollo app through the Frollo Personal Finance Management (PFM) Platform. Either by branding their own version of the Frollo white label app, or integrating the Frollo SDKs and APIs into their own app.

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