The personal finance software market is anticipated to grow at a considerable CAGR of 5.6% during the forecast period. With the continuous development and deployment of advanced technologies, several companies are introducing simple financial management solutions equipped with up-to-date features, offering a way to customers in helping them make the right financial decisions. Key market players such as Buxfer, Intuit, Money Dashboard, and Quicken are undergoing various business strategies to sustain their position in the personal finance software market. For instance, in January 2020, Quicken released Simplifi, a personal finance app to help a new generation of consumers easily manage their finances. Simplifi offers a simple way for consumers to see a consolidated view of all their accounts, track day-to-day spending, and achieve savings goals. Simplifi delivers a transparent, ad-free experience and comes with features such as watchlists, budgeting, projected balances, and savings goals.
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Moreover, with the integration of the latest technologies in personal finance software is allowing developers to personalize the software and offer tailored digital experiences as per consumers’ demands, which is further adding to the market growth. This is increasing the deployment of artificial intelligence (AI) and Big Data to understand consumers’ behavior and to deliver a customized experience to the consumer. Additionally, the use of AI to interact with consumers and provide instant response and quick complaint resolution to improve customer satisfaction is increasing the adoption of personal finance software, therefore propelling the industry's growth. For instance, In November 2019, Bank of Georgia, a UK-incorporated holding company launched a new retail banking solution named MBank. The company claims the solution is powered by artificial intelligence (AI) to help provide customers with a tailored digital experience. MBank features smart personal finance management to aid users to track their spending and categorizing their finances, income, and expenses.
Market Coverage
• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
o By Product Type
o By End-User
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- Buxfer, Inc, Intuit Inc., Money Dashboard Ltd., Quicken Inc., You Need A Budget LLC, and others.
Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?
Personal Finance Software Market Report Segment
By Product Type
By End-User
Personal Finance Software Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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