Emma App is Introducing a New Feature for Crypto Users
A popular money management app is introducing a new feature for crypto users.
Emma, the UK-based app which calls itself “your financial advocate” will now have a special cryptocurrency feature so you can keep up to date with your digital assets. At the moment, Emma app’s technology helps users to control their finances and manage their money all in one place including current and savings accounts and credit cards.
It identifies any unnecessary expenditure and subscriptions and avoiding dipping into your overdraft, as well as helping to save you money. It even advises on how to save and what to invest your hard earned cash in, detects hidden bank fees, sets up smart alerts for chosen transactions and boasts a real-time currency converter.
Plus you can sync budgets to payday, a very popular feature with users, as well as finding and tracking recurring payments – as well as predicting future payments and notifying when prices go up and down. All this is taken into account and Emma app provides spending insights broken down by category or vendor to help you realise where your money is going.
This is all very useful, but now the London-based fintech firm realises that it needs to look further than traditional banking. The company recognises that more and more people are dipping into the world of cryptocurrency and have adjusted the services on its app to provide insights into the user’s complete financial affairs – not just traditional currency sitting in banks or on credit cards. Users are now able to connect to their crypto exchanges via the secure Emma app, as well as viewing live performance, track coins and tokens.
Co-founder and chief executive officer of Emma app, Edoardo Moreni said:
“We see cryptocurrency as the next emerging asset class. At this point, there are more than three million people who have bought Crypto in the UK. It’s pretty evident that we need to start accepting this as any other type of financial product, in the same way, we treat current accounts and credit cards. If Emma is able to help people control and manage a current account, she should be able to do the same for any type of financial product or service.”
At the moment, Emma app supports Bitfinex, Coinbase, Binance, Bitstamp, Kraken, Bittrex, Bitcoin and Ethereum addresses in a ‘read-only’ sense which means that you can’t invest or carry out transactions using these currencies on Emma app, but you can check your status with them.
However, this will change in the future as Emma app does aim to develop ‘write access’ features for all bank accounts and crypto exchanges.
“Open Banking will be extremely useful for the former. In terms of the latter, we are already talking with a few providers to introduce write transactions and also the ability to save in cryptocurrency, based on behavioural rules and risk appetite. We see this as a huge opportunity and if we are those who help people understand and invest in crypto for the first time, it fits with our core mission.”
These functions will eventually help Emma app’s users to manage their money better and improve their finances and credit rating, and now they will also be able to view all their cryptocurrency investments in real time under one platform – for free. Emma app is currently the only app in the UK which allows users to view both their traditional and crypto finances completely free of charge and it is very simple to use. It only takes a few taps for users to be able to view their banking and investing transactions.
By Joy Lewis.