Bsavi launches beta money management app at Web Summit

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South African personal finance startup Bsavi has launched its invite-only private beta mobile app at the Web Summit event in Ireland, which it says is a money management tool to help people save money.

Bsavi is a spend management tool that shows users exactly how much they can spend on a daily basis once they have accounted for their planned and fixed expenses.

The company said people generally relied on mental accounting skills in order to budget between pay cheques, with Bsavi solving this problem with its single purpose “Daily Available Cash” feature, which acts as the catalyst for many forthcoming features such as credit monitoring, mobile payments and crowd savings.

“We live in the age of social networks, Google Now, and Artificial Intelligence, all of which have already started to shift the paradigm in how we connect, communicate and transact in the information age. Banking tomorrow won’t be a place you go to but something that you do. We aim to integrate into the way everyday people live, work and play with their money, essentially becoming the Google Now of personal finance,” said Tobie van Zyl, chief executive officer (CEO) and founder of Bsavi.

The Cape Town startup aims to disrupt and reinvent the global financial ecosystem with its social, financial data transaction exchange for banks, credit providers and retail and commerce companies to securely connect to users’ financial graphs on their own terms.

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Passionate about the vibrant tech startups scene in Africa, Tom can usually be found sniffing out the continent's most exciting new companies and entrepreneurs, funding rounds and any other developments within the growing ecosystem.

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