Personal Finance Software Integration

I am a new Monzo user, and am really loving the ‘immediacy’ and ‘ease of use’ of the debit card and the phone app. I really like the ideas you guys have for the future of banking.

I currently use Personal Finance Software (iBank) to keep track of my accounts with my (current) current account provider. What plans are there for integration by Monzo with this kind of application?

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I would expect you could get this kind of integration via API.

One thought I have is why do we need personal finance software? What I want from Monzo is for them to replace that. Everything is automatically categorised without any input from me. Trying to keep on top of things with YNAB was such a bore in comparison.

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Is iBank still just a desktop app or have they gone all online yet?
Last time I used it they had integrations with a long list of US banks (because there seems to be a more widely used system over there) and in the UK I had to just import CSV’s. I suspect that would be the same if its still desktop.

iBank (now called Banktivity) has full integration into UK banks via what they call ‘direct access’. It’s a desktop app with your data stored in the cloud, so you can access from multiple devices. The tool is pretty good compared to many in the market.

I reconcile my statements each month through the standard 'line-by-line’process, probably out of a sense of mistrust for my current bank.

I guess the intent of my question relates to whether a) I will need such software if Monzo provide a real time account, or b) iBank/Banktivity will connect to Monzo current account.

I’m also hoping for some integration with YNAB. It’s pretty much up to the third party to sort it out once the API is published though and YNAB is very UScentric so I’m not holding my breath!

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