Budgeting app Buddy taps Klarna Kosma for automatic expense tracking
Budgeting app for young people, Buddy, has partnered up with Klarna Kosma to enable users to connect their bank accounts and track expenses automatically.
Buddy taps Klarna Kosma for automatic expense tracking
Klarna Kosma is buy now, pay later (BNPL) giant Klarna’s open banking fintech platform. Through a single application programming interface (API), Kosma offers banks, financial institutions, fintechs and merchants access to 15,000 banks in 27 countries to build apps and services.
With the partnership, Buddy will be able to provide users the option to directly link their incomings and outgoings from their bank, in order to track expenses, gain insights into their spending habits, and control their finances.
The new feature will allow Buddy users to check their account balance in real time, monitor spending, and set up payment reminders from within the app.
“With Kosma’s help, Buddy could create a more smooth consumer experience, resulting in 52% more monthly active users for the personal finance management app,” says Wilko Klaassen, vice president for open banking at Klarna Kosma.
Founded in 2017 and headquartered in Stockholm, Sweden, Buddy claims to have more than three million users worldwide, as well as being the “fastest growing” budgeting app on the App Store. The start-up is bootstrapped and has only four employees.
