Today, the team at CryptoAnalyst has secured an exclusive interview with the brains behind Emma, a money management application and financial advocate.
First off, though, let’s bring you up to speed on what this exciting project is all about.
What is Emma?
Emma is a financial management application that allows you to control your finances in a smart and simple way. Built for millennials, the app caters to users who are in need of an extra hand when it comes to avoiding overdrafts, manage subscriptions (and cancel them if needed), track debt and put money on the side for savings. Launching in London in January 2018, Emma has successfully raised £500k in July and has since been growing consequently. The application is free to use and is available for Android and iOS. To begin, the user will enter his bank information details and the app will automatically sync the transactions and balances, as well as analyze the entirety of the account. From then on, the customer will be able to track, save, and avoid overdrafts and debts thanks to Emma.
Emma Launches Cryptocurrency Exchange Integration
Cryptocurrencies are gaining a lot of popularity among investors and the younger generation. More and more people are investing and are diversifying their portfolio with multiple types of assets. In addition to a need to manage bank accounts and traditional fiat expenditures, the need to manage and track digital currency investments is growing exponentially. This is why Emma has announced the launch of cryptocurrency exchange integration in October 2018. Through the application, users can now directly integrate and link their accounts from various cryptocurrency exchange platforms, including Coinbase, Binance, Bitstamp, Bittrex, Kraken and Bitfinex. This will allow users to track their performance in terms of value of the coins and tokens they own across various platforms, as well as visualize their investments in real-time.
In the statement announcing the launch, Edoardo Moreni, CEO of Emma, declared: “Emma was built to empower millions of individuals to live a better and more fulfilling financial life. Cryptocurrency is the next emerging asset class and we are thrilled to welcome it as part of our family of integrations. Our users can now manage and track their crypto holdings alongside more traditional finances to make wiser and more transparent decisions. For Emma, this is one of the first steps towards a world where account aggregation doesn’t just refer to banking products, but opens the doors to several financial services.“
The app will enable users to follow their virtual currency accounts alongside their bank and fiat accounts for free, which makes Emma the first of its kind in the UK. Furthermore, app users can connect individual Bitcoin and Ethereum addresses. This means that virtually hundreds of digital assets can be followed and monitored right from the app. Once the address is entered, or the exchange account linked, the user won’t have to enter a transaction manually ever again. Emma will change the way we manage our finances and the way we track investments and analyze our crypto performance, via a secure and unique application.
TLDR: Money management application Emma launches cryptocurrency integration via a number of different exchanges. Users will be able to view and track cryptocurrency investments in real-time directly from the application.
Here at Cryptoanalyst, we are proud to bring you an exclusive interview with Emma’s Edoardo Moreni
1) What can you tell us about Emma? How would you introduce it to someone who is completely new to it?
Emma is a financial advocate. A mobile app for iOS and Android that helps people improve and manage their finances. In particular, she helps people avoid overdraft, find and cancel wasteful subscriptions, track debt and save money.
2) How do you enable your customers to have a better managing experience for their financial assets?
Emma is able to aggregate all your assets in one place, provide insights and bring the transparency everyone deserves to better track finances.
3) Why do you believe right now is the right time for Emma to integrate crypto?
We see Crypto as the next emerging asset class. There is a huge amount of people who are getting closer to the Crypto world day by day, so we realised we needed to bring the same amount of clarity and transparency in this space. Further, this was one of the most requested features we have ever developed. Coinbase, on its own, is more popular than many banks we integrate with.
4) Can you explain further to our readers how you are able to integrate the main exchanges like Coinbase, Bittrex, Binance on Emma?
We use the API provided by the following exchanges in read only mode. This means we don’t have direct access and can’t transfer any funds.
5) What element of Emma excites you the most?
The behavioural insights side of Emma. We are currently working to make the app more proactive and engaging. This means Emma will be able to tell you to stop spending, start saving or even cheer people up if they are doing well. There is a huge space of possibility and we think we can make Emma everyone’s private wealth manager.
6) What are the next steps for Emma?
We are building Emma to be the first finance app in the UK. We believe we are really close to achieve this and are about to release a set of key features that will make Emma the first choice for consumers. At this point, everything we do is read only, but we are ready to move into the write world to be able to process payments, help people save and transfer money.
7) Where do you see Emma in 5 years? 10 years?
I think Emma has the potential to be the number one finance app in the world. A technology, whose only goal is to help people getting better at managing their finances. With this view, we believe we can build an AI that will help people recover from debt, learn how to save and later invest.