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The open finance building block to develop your next application idea
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Recognizing the increasing financial literacy rates, Xettle acknowledges that effective financial management remains a challenge for many due to poor spending habits and inadequate planning, contributing to low financial well-being.
Solution
Xettle utilizes Brick's APIs to securely retrieve user transaction data and balances across linked financial accounts. By consolidating this information through a one-time setup, Xettle provides users with a comprehensive, categorized view of their finances for free.
Result
Integration with Brick's APIs facilitated substantial user growth and empowered users to effectively manage their finances. A significant portion of customers reported improved financial well-being after using the app, while Brick's APIs ensured secure bank account connections for reliable data consolidation.
Users growth per week
Xettle’s customers say they managed their finances better after using the app
Empowering Indonesia's Youth with Seamless Financial Management Solutions
Xettle is a personal financial management app launched in early 2021 by Bebasfin to tackle problems related to financial management in Indonesia. Xettle allows users to securely aggregate their financial accounts from different data points in order to manage their finances better. By targeting tech-savvy young adults, Xettle believes it can promote better financial awareness across generations.
Xettle's Mission to Foster Financial Discipline in Indonesia
Only approximately 38,03% of Indonesia’s 260 million population acknowledges the importance of financial management and its implementation for well-being, despite the increasing rate of financial literacy. (source: financial literacy index, OJK 2019).
While the rate of financial literacy keeps rising, financial management has been a long-standing issue. Many suggest that the main reasons to low financial well-being are poor spending habits and bad planning. We have all experienced the pains of attempting to plan our expenses, only to realise we had expended all our budget even before the month ends - without knowing where all our money went! Being unable to budget well and do financial planning has long-lasting impacts on individuals and families.
Xettle Unlocks Financial Clarity with Brick's APIs
Xettle uses Brick’s financial data APIs to retrieve users’ historical transactions and balances across multiple accounts. Xettle users have the option to select the financial accounts they want to connect to the app. This allows Xettle to provide their users a comprehensive view of their income and expenses - broken down by categories! All these by just doing a one-time set-up, in addition to being free to use.
Fostering Financial Well-being: Xettle Succeeds with Brick's APIs
Xettle's integration with Brick's APIs has yielded impressive results. The app has experienced a remarkable 15-20% user growth per week, indicating its rising popularity. Furthermore, 80% of Xettle's customers report better financial management after using the app, highlighting its effectiveness in promoting financial discipline. Notably, Xettle has achieved a 99% success rate in connecting users' bank accounts through Brick's APIs, ensuring seamless and secure data consolidation.
These outcomes demonstrate the significant impact of Xettle's solution, powered by Brick's APIs, in addressing the long-standing challenges of financial management in Indonesia. The combination of user growth, improved financial well-being, and reliable data integration positions Xettle as a game-changer in the personal finance management space.
