Automatic financial data aggregation and categorisation: Helping young adults be money-wise in one app

Oval money

UK, Italy

Use case

Money management app

Solution

Account Information, Data Enrichment

Oval is a fintech startup company based in the UK and Italy that offers a smart solution for managing all personal finances in one unique, intuitive app. The Oval app targets young people with flexible income and limited access to financial products, allowing them to make savings automatically and even turn these savings into income by creating an investment portfolio and setting up recurring weekly investments.

Oval offers expense tracking, saving, and investing features in one easy-to-use app, where all financial data is aggregated from various sources automatically. Salt Edge’s Account Information API can collect information from over 5,000 financial institutions in 50+ countries, enabling Oval app users to securely access data from any type of accounts (credit/debit, saving, checking, loan/mortgage, investment/brokerage, eWallet, crypto trading platforms) by connecting the chosen institution. Based on self-learning machine algorithms, the fetched transactional data is normalised, unified, and categorised via Salt Edge’s innovative Transaction Categorisation engine.