he financial health “FHSmart Feature” could leverage Apple’s machine learning in connection with the Wallet app to automatically analyze your spending based on things like merchants, recurring expenses, irregular purchases, and more. Based on that, it could offer recommendations to help you better manage your finances.
Not quite sure if one of the existing Apple topics is more suitable so mods feel free to move it but this could indicate come competition for Yolt and other financial planning apps, not to mention banking apps that include budgeting
Thank you for sharing. Very interesting. If it happens, and turns out to be a feature that’s available outside the US, it’ll be worth watching the impact this has on the financial health apps market - and on banking apps that offer this feature. As far as I’m concerned, this topic is definitely deserving of its own thread!
Monzo have very quickly integrated balances and transactions from our other bank accounts (for Monzo Plus subscribers). It’ll be interesting to see whether Monzo can extend its budget tracking tools to cover those bank accounts accessed through Open Banking. Else any such feature from Apple could be disruptive to the appeal of Monzo Plus.