Beyond Bank partners with Frollo to launch Personal Finance Management app

Beyond Bank partners with Frollo to launch Personal Finance Management app

Frollo, the Australian leader in Open Banking technology, has today announced it has signed Beyond Bank, one of Australia’s largest customer owned banks, as a client for its Personal Finance Management (PFM) platform.

The bank will use Frollo’s PFM platform to rapidly launch a white label PFM app with market leading financial well-being features for its customers. On average, Frollo’s clients launch their white label app on iOS and Android within 5 – 8 weeks from signing the contract.

As a customer owned bank, Beyond Bank has a strong focus on delivering value back to its members. In addition to delivering great products and customer service, this means helping customers feel in control of their money.

The Frollo PFM platform will enable Beyond Bank to offer its customers a proven and impactful financial well-being experience, without a lengthy and expensive development process.

Out of the box, Beyond Bank will be able to offer its customers:

  • A full financial overview – All of their financial accounts in one place, with transactions grouped into meaningful categories and enriched with merchant information

  • Smart insights and nudges – AI powered smart insights to help customers better understand their financial position and take steps to improve

  • Financial wellbeing tools – A complete toolset to achieve their financial objectives, including bill tracking, budgeting and goals

Although Beyond Bank will initially launch their new PFM app alongside its existing, award winning banking app, the Frollo PFM platform enables the Bank to seamlessly integrate the features into their own app at any time in the future.

Peter Rutter, General Manager of Brand and Community at Beyond Bank, said he was confident the partnership with Frollo would result in a PFM app that would help their customers enjoy more financial freedom.

“Our commitment to our customers’ financial well-being is core to our offering,” Rutter said.

“Being able to provide a proven, robust and features-rich solution through the Frollo PFM white label product ensures we can meet their expectations, while keeping pace to go to market and developing new features ongoing,” he said.

Gareth Gumbley, Frollo’s CEO & Founder said, “We’re excited about our partnership with Beyond Bank for multiple reasons. For one, as a purpose driven fintech, our values very much align with theirs. We’ve built a platform that has a proven, positive impact on the financial well-being of consumers and Beyond Bank is a great partner to bring this to more Australians.

“By launching a white label app alongside its banking app, Beyond Bank also shows an appetite to innovate and learn. They’ll be able to go live, offer real value to their members and start learning more about their behaviour right away, using those learnings when they build these features into their main banking app,” Gumbley said.

The Frollo PFM platform makes it easy for businesses to offer their customers proven, impactful financial well-being features. Saving them time and money, businesses can choose to take a branded white label app, or integrate the Frollo SDKs and APIs into their own app.