Two popular personal financial management apps are being shut down this week. But optimism remains about banks' investing in PFM tools — so long as they rethink a technology that has failed to win over the masses.
Through the partnership, Clarity Money customers can use Acorns’ automated investing features, while Acorns users can see a snapshot of their investing activity in the Clarity app.
The companies will use an application programming interface to let Chase customers send the data to the apps Finicity supports, including personal financial services apps and income verification tools.
Digital banking services should solve consumers' problems and offer them advice, and they must rely on artificial intelligence and other cutting-edge technology, bankers from TD, RBC and Bank of the West said.
KeyCorp is acquiring HelloWallet, a personal financial management product it has offered its bank customers since 2015, from the investment research firm Morningstar.
