Consumers today want services that can show them their whole financial picture, from the effects of daily transactions to how their investments are doing.
That’s why micro-investing service Acorns has partnered with Clarity Money, a fintech that bills itself as the “champion” of consumer finances with its PFM app, the companies announced today.
Clarity Money customers will be able to access the automated investing features that come from Acorns (after becoming Acorns investors), while existing Acorns investors will be able to see their activity within the Clarity Money app (after becoming Clarity Money users).
In other words, it embeds Acorns directly into the Clarity Money app.
Aside from the micro-investing capabilities found with Acorns, Clarity Money users taking advantage of the partnership will also be able to use the fintech’s “Found Money” rewards program, which puts a direct investment into a user’s account after shopping with a partnered retailer.
This “cash-forward” program, as Acorns terms it, fits in with the consumer champion philosophy of Clarity Money, which wants to move consumers away from having to rely on traditional financial services in order to get a real view of their finances.
Despite the current glut in the PFM market (not to mention that market’s impending death, according to some) It’s a philosophy that has so far served the fintech well since its launch at the beginning of this year.
Two days after the app’s launch in January, Clarity Money had amassed 10,000 users. Per March of this year, it now has 100,000 users, and plans to partner further with similar fintechs to grow its application, according to company statements.
Combine those with the 2 million accounts currently active on Acorns, and Clarity Money certainly seems to be on an upward trajectory.
Clarity Money is currently available on iOS devices, while Acorns is available for both iOS and Android users.1 - Reader Likes This Post