Look out people, there’s a new money-management app in the wild. It’s called Empower and it promises some unique features.
Empower’s main draw seems to be that it not only collects information on your finances from your accounts, but also allows you to act within the app. For example, it will let you transfer money between accounts without having to switch out to your bank’s proprietary app. As TechCrunch reports:
“The new application combines the ability to see an overview of your day-to-day transactions and spending behavior, with other tools to transfer money between accounts, automate your savings, and soon, pay bills and pay down your debt.
The ultimate goal, explains Empower’s founder Warren Hogarth, is to have Empower be able to fully replace your bank’s app”.
Also, Empower actually partners with many financial institutions, which makes me feel much more comfortable with the idea of giving it access to my accounts than apps which do not (and which just ask for my bank login credentials, and for my trust that such information will be safe in their hands).
One app instead of many? Sounds good!