Digital Banking and PFM in South Africa

PFM stands for Personal Financial Management and refers to the digital tools that people use to manage their financial lives. The purpose of PFM solutions is to simplify money management and help people make better financial decisions.

At its most basic, PFM solutions provide simple money management tools such as transaction analysis and categorisation. However, advanced PFM solutions can offer much more and can include a full suite of personalised insights, recommendations and nudges to help their users improve their finances.

PFM stands for Personal Financial Management and refers to the digital tools that people use to manage their financial lives. The purpose of PFM solutions is to simplify money management and help people make better financial decisions.

At its most basic, PFM solutions provide simple money management tools such as transaction analysis and categorisation. However, advanced PFM solutions can offer much more and can include a full suite of personalised insights, recommendations and nudges to help their users improve their finances.

With the state of consumer wellbeing in Australia continuing to face pressure due to shifting economic conditions and environmental disruptions, it’s a smart move for Mutuals to focus on improving their members financial wellness.

To achieve this, Mutuals can enhance their digital services with:

  • Personalized insights
  • Financial literacy resources
  • Savings goals
  • Budgeting tools
  • Predictive money management
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Consumers in South Africa are embracing and adopting digital solutions, causing a big shift in how financial services are used and accessed.

PFM solutions can play a crucial role in driving this digital shift as they provide tools which allow users to manage their finances effectively. This enables users to:

  • Track expenses
  • Create budgets
  • Analyse spending habits
  • Set financial goals
  • Visualise financial data
  • Get personalised financial tips and recommendations

By leveraging PFM solutions, financial institutions can increase digital adoption and financial inclusion. Read more about this in our whitepaper

With the state of consumer wellbeing in Australia continuing to face pressure due to shifting economic conditions and environmental disruptions, it’s a smart move for Mutuals to focus on improving their members financial wellness.

This will not only reduce your members stress, but it will also boost mental, emotional, and financial security, while enhancing retirement readiness and flexibility.

To achieve this, Mutuals can enhance their digital services with:

  • Personalized insights
  • Financial literacy resources
  • Savings goals
  • Budgeting tools
  • Predictive money management

With the state of consumer wellbeing in Australia continuing to face pressure due to shifting economic conditions and environmental disruptions, it’s a smart move for Mutuals to focus on improving their members financial wellness.

To achieve this, Mutuals can enhance their digital services with:

  • Personalized insights
  • Financial literacy resources
  • Savings goals
  • Budgeting tools
  • Predictive money management
2
3
4
5

Consumers in South Africa are embracing and adopting digital solutions, causing a big shift in how financial services are used and accessed.

PFM solutions can play a crucial role in driving this digital shift as they provide tools which allow users to manage their finances effectively. This enables users to:

  • Track expenses
  • Create budgets
  • Analyse spending habits
  • Set financial goals
  • Visualise financial data
  • Get personalised financial tips and recommendations

By leveraging PFM solutions, financial institutions can increase digital adoption and financial inclusion. Read more about this in our whitepaper

Download the white paper
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Increase digital adoption & financial inclusion

with Moneythor’s data-driven, real-time and actionable insights, recommendations and nudges

Landing Page Image How Australian Mutuals Can Improve Wellbeing (2)

Request A Demo

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Next Steps: Sync an Email Add-On

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Interested to learn more about financial wellbeing and personalisation? Download one of our guides

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Interested to learn more about financial wellbeing and personalisation? Download one of our guides

Gamification Download To Read Later
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Islamic Banking Download To Read Later 429x600