Acorns Australia goes live with Moneythor for personal finance
Micro-investing service Acorns Australia has chosen Moneythor’s machine-learning solution to help it analyse customers’ spending patterns and offer insights into savings.
The new “My Finances” features of the Acorns app were developed with Moneythor’s engine. The solution’s predictive analytics and data classification techniques are also used to provide customers with an estimate of their future cashflow and automated transaction categorisation.
George Lucas, MD of Acorns Australia, says the solution makes “personal finance easy to manage” for Australian consumers.
Acorns Australia is a 50/50 joint venture between Acorns Grow in the US and Instreet Investment in Australia, established in March 2015. According to the firm’s latest figures, its app had over 160,000 downloads in Australia.
