NuWallet

The challenge

When becoming young independent adults students face plethora of challenges that they encounter on the daily. For eight out of ten students one of the main challenges is getting the hang of their personal finances. Tools such as excel, used for manual budgeting, can be often time-consuming and ineffective, which is one of the main reasons why young people struggle to get control over their finances. Failure to budget correctly can lead to excessive spending and financial problems over time. As a result students are more strained and cannot properly focus on things that they enjoy.

The solution

NuWallet is a mobile app that provides university students with financial advice based on their transactions data. We allow people to connect their bank account to our app and we import and categorize all of their data for them. What makes our app different is that we make the whole process less time consuming for our customers since all of the actions will be performed automatically. We move away from traditional budgeting apps, where students are required to have financial knowledge, by giving them relevant financial advice and educating them directly in our app. The feature we're looking to provide range from basic expense logging to pension saving options, that will help users better plan their future and avoid overspending in the present. Additionally, an interpersonal feature will allow clients to remind others about money they are owed, ensuring that their money is paid back in time.