In less than three years, WeMoney has developed a financial wellness platform that enables its members to aggregate their bank accounts, credit cards and loans to gain a 360° view of their finances. The platform has shaken Australia’s personal banking and money management sectors and become the nation’s biggest social financial wellness platform.
Converting dreams into reality
The WeMoney platform primarily targets the 18-40 demographic, who by the age of 30, have amassed over $25,000 in personal debt, on average. WeMoney’s machine learning technology analyses and cleanses data relating to billions of dollars of financial transactions across Australia every day. The technology then meshes these insights with the latest behavioural science data on how people manage money. Its smart platform enables WeMoney to tailor financial information and match products to the needs of its individual members so they reach their financial goals faster.
“Radium Advances allowed us to fast-forward our R&D programs, complete product development and platform improvements months ahead of schedule and score a home run for members and investors,” WeMoney Founder & CEO Dan Jovevski says.
Improving financial lives
By prioritising R&D and reinvesting in more innovation with Radium Advances, WeMoney has been able to improve on its machine learning technology and the speed at which members can access their data-driven insights. It also provides members with additional features, which, in turn, has helped the venture deliver organic growth of around 70%. WeMoney has recently released a paid version of its app called WeMoney Pro, offering enhanced insights and features to boost members’ financial health. It’s also available to businesses as an employee benefit, as part of WeMoney’s mission to help more Australians achieve financial freedom sooner.
For more information, visit the WeMoney website.