Frollo 2.33.1

Frollo is a comprehensive money management app designed to assist users in gaining control over their finances, setting savings goals, and effectively managing debt. This application is available at no cost and provides a secure and private platform for users to view their financial landscape. Currently, it has garnered a user base of over 145,000 Australians who leverage its features to streamline their financial management.

Notable Impacts:

• Within the first three months, users report an average savings increase of $520.
• Within six months, users achieve an average reduction of $100 in credit card debt.

Account Integration through Open Banking:

Frollo utilizes the Consumer Data Right (Open Banking) to enable fast and secure linking of financial accounts. This method allows users to control what data they share and the duration of access, all while maintaining privacy and security.

Comprehensive Financial Overview:

The app allows users to connect various financial accounts, including transactions, savings, credit cards, loans, superannuation, and investments, presenting them in real time for easy accessibility.

Spending Transparency:

Frollo offers detailed transaction breakdowns categorized into convenient groups such as 'Salary', 'Groceries', and 'Gym & Fitness', enabling users to understand their spending habits over time.

Net Worth Calculation:

Users can enhance their profiles by adding assets and liabilities—such as properties and vehicles—to accurately assess their net worth.

Bill Management:

The app helps track recurring payments like rent and subscriptions, ensuring that users remain informed about due dates and avoid missed payments.

Budgeting and Goal Setting:

Frollo allows users to establish and monitor budgets for their expenditures while setting savings goals for significant milestones such as vacations or home purchases.

Personalized Alerts and Insights:

The application provides useful notifications regarding insufficient funds for upcoming bills, potential savings on subscriptions, and spending trends on groceries.

*Data pertains to Frollo users with less than $100k in savings.

**Open Banking is accessible for major banks, with additional providers included as they become available. For those not yet integrated with Open Banking, access will be provided through screen scraping.