M&T Bank announced the launch of “M&T Money Smart” in its digital banking platform and mobile app. “Money Smart” is an all-in-one digital tool that helps users manage their finances and make smart financial decisions.
“Money Smart” allows users to combine all their accounts, both M&T and those from other banks, into one dashboard. Budgeting and spending visualizations help users set financial goals and track every dollar, while the debt payoff forecasting feature helps customers project a date when they might be debt-free.
“Our customers are increasingly looking to us to help them improve their financial quality of life, and we’re excited to be able to provide this added benefit,” said Chris Kay, M&T Bank’s executive vice president of consumer banking, business banking and marketing. “ ‘Money Smart’ is a great addition to our online and mobile banking products and services and provides our customers with a powerful tool they can use to more effectively manage their finances without leaving the security of M&T Bank’s platform.”
As consumers become more comfortable with mobile apps, the demand for convenient digital banking solutions continues to grow. Recent research conducted by The Harris Poll on behalf of Fiserv noted a majority of consumers who are struggling with managing their finances look to their primary financial organization for help. That same poll also found 34% of consumers want to be able to manage all their financial accounts in a single online location or app, and real-time access is desired by 33%.
Customers can access the tool by logging into their M&T mobile banking app or online banking and selecting “Money Smart” from the services menu.