Beyond Bank teams with Frollo

Frollo has signed the customer-owned bank as a client for its personal finance management (PFM) platform – with Beyond Bank to launch a white label app for its customers.

There is no set launch date, but Frollo has reported that its clients typically launch their white label app on iOS and Android within five to eight weeks from signing the contract.

Beyond Bank customers will be able to access a full financial overview – with all of their accounts in one place, as well as AI-driven spending insights and nudges, and other tools, including bill tracking, savings goals and budgeting.

The app will initially launch separate to Beyond Bank’s existing banking app, but Frollo has said the company will be able to merge the features into its own app in the future.

Gareth Gumbley, chief executive and founder of Frollo explained that Beyond Bank will be “able to go live, offer real value to their members and start learning more about their behaviour right away, using those learnings when they build these features into their main banking app.”

Peter Rutter, general manager of brand and community at Beyond Bank, added: “Being able to provide a proven, robust and features-rich solution through the Frollo PFM white label product ensures we can meet [customers’] expectations while keeping pace to go to market and developing new features going.”

Frollo recently also signed Bendigo and Adelaide Bank-owned neobank Up to its open banking platform, allowing users of the fintech’s budget management app to connect their accounts with Up.

Payments company Tyro also joined the platform in June, following the lead of the big four banks and Regional Australia Bank in 2020.

[Related: Open banking threatens one-stop-shop finance: Athena]