Fintech

Overview.co.ke is launching next month to help users keep track of their finances across wallets effortlessly & in real-time

Founded by Hans Pauwels and sons Charles-Axel Pauwels and Henri Pauwels, Overview is a personal finance management app that aims to be a better M-Ledger complimenting Kenya’s mobile payment wallets and helping users track their daily financial expenditures.

Set to launch in Kenya by May 15th, Overview is a product of Belgium-based Overview Technologies. Overview for Android is now available in Alpha with over 100 users as it finalizes its tweaks to become Kenya’s first fully comprehensive personal finance diary detailing a users transactions from M-Pesa, Airtel Money, Orange Money, KPLC, DStv, Tala, Mswhari, Branch, KCB Mobibank and KCB M-PESA among others.

“Kenya is a global leader in mobile payments with users doing more than 4 mobile money transactions a day. However, there is no app that help users keep track of their expenditure apart from the now defunct M-Ledger which allows Safaricom to send users their M-Pesa transactions on request. Overview keeps track of a users loans, bill payments, and due payments across all major mobile money wallets,” Henri told TechMoran.

While Kenya’s Abacus tracks the stock market and simplifies trading for investors, Overview tracks personal finances for personal financial management and decision making. Like Abacus, Overview doesn’t hold money.

“We are the aggregators,” said Hans. “We do not provide loans or savings. We do not do payments. But we collect the data from such transactions, analyse them and report them to users in a legible and visually interesting manner. Making it easy for users to understand their finances. Making it possible for them to make informed financial decisions.”

The family says there is a need for users to understand their finances as economies move from cash-based to digital finance systems. Without the tools to manage their finances across providers: easily, effortlessly, efficiently people will not make the right financial decisions, at the right time, for the right circumstances.

Overview also sends SMS notifications after every transaction whether a user is online or offline. The app also allows a user to send a free personalised instant message after each transaction to either say thank you or confirm receiving the payments. Overview tracks both Peer-to-peer transactions as well as B2C and B2B transactions.

Overview categorizes a users expenses automatically separating utility bills from loans, over the counter shopping payments and peer-to-peer transactions to help a user know how they spent their money in a day. Charles-Axel Pauwels, the CTO says Overview is using machine learning to understand user patterns and it will start to make suggestions that are relevant to a user at that specific moment in their life. The app also maps the location of all transactions using a Google Maps integration.

Apart from individual users, Overview is targeting members of Chama’s, on-demand app users such as Uber, Kisafi, Sendy among others. In the meantime Overview works with M-PESA, Airtel Money, KCB transactions, M-Shwari savings and M-Shwari Lock Savings and is in final talks to have Equity Banks Eazy Pay digital loan providers, such as Tala and Branch among others.

For security, Overview is PIN code protected and all communication within and with the servers are encrypted.

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