Yatta, a new financial management app from Dublin, is set to launch. The fintech is still in its early stages of development and will be looking for potential partnerships.
The AI-powered solution is the brainchild of former Ignition Advice executives Alan Quinlan (chief executive officer) and Colm McLoughlin (chief commercial officer).
Quinlan also spent two and a half years as CEO of Ignition Wealth Ireland, while McLoughlin acted as managing director for Evolve Financial Planning for 14 years between 2003 and 2018.
Yatta says it is on a mission to help users “navigate the complexities of financial decision making”.
It offers connections to its tech via an integrative application programming interface (API), or through use as a white label platform.
It says it will help customers understand their relationship and patterns with money, so they have the “wisdom and confidence” to create financial health.
Yatta uses a “blend of open banking and AI” to visualise users’ short and long-term spending habits.
Research from the Open Up 2020 Challenge shows that 54% of people in the UK use money management apps regularly.
Customers have become more comfortable with managing their personal finance since the COVID-19 pandemic began.
The data shows that 36% of users are using money management apps more often since the start of 2020. 23% say that their trust of finance apps has increased over the same time period.
Interested parties can sign up to an email list to be notified of its launch.