The ID Co in good mood with NoMo Money app launch
The ID Co wants to win personality contests with the launch of its NoMo Money app for cashflow tracking via open banking.
You may think it’s just another app, but the ID Co is having none of it. It reckons the app differentiates itself from other personal finance management (PFM) apps by bringing a “healthy dose of personality, aligned with a clean and simple interface”.
Call them mood swings if you want
The app seeks to offer users “an honest appraisal of income and outgoings, simply, and with a human touch”.
NoMo aims to let users see if they are up or down in their finances by comparing their daily historic average of their current account against the current sum of funds.
The ID Co’s CEO, James Varga, says the app “allows customers to answer one very simple, but important question”.
And that is: “Do I have more or less in my bank account than I did at this time last month?”
NoMo consists of two main screens: snapshot and summary.
The snapshot shows the user how much they are up or down with the aid of personal messages from NoMo.
The summary provides a visual representation of the user’s budgeting performance over the month. The days of the month in orange represent the days the user has been down. Those in yellow represent the days the user has been up. The days in white are the days that the user has been on their average.
NoMo works as a standalone app or alongside other PFMs in the market such as Yolt, Money Dashboard and Chip. Its goal is to remove the stigma around day to day spending habits, make it easier for users to discuss their finances openly and feel more comfortable in their finances, good or bad.
If people in the UK got paid proper salaries then none of this would be needed.
NoMo has been launched to complement the offering already offered by the ID Co., which includes the B2B platform, DirectID.
DirectID supports 5,500 banks in 32 countries, and in August integrated with Clydesdale and Yorkshire Bank (CYBG) to allow CYBG customers to view accounts with other banks within their “B” App.
