I think all neo banks are on board with the idea of notifications for purchases with a running tally, or update, of your account balance.
What I’m interested in is a notification that not only tells you your balance, it helps you move money around. The biggest slowdown I’ve noticed with online banking is people stuck in queues saying ‘Ah, sorry, I need to shift some money across’ and everybody in the queue waits while they open their app and begging selecting account and amounts etc.
So what if you get a notification that triggers at a preset amount, determined by you, and says ‘Your spending account has moved below $35. Would you like to shift some money across from your savings?’ The account it would shift money from and the amount would also be preset by you, maybe in settings maybe in the savings account screen itself.
The point is all about speed and efficiency. When your in the queue, you don’t want to be doing a deep dive into the app. A notification that is all setup, one tap and it moves $20 from savings to spending. I’m all for people being more into their spending and studying their habits but there is a time and a place.
When your at the shops, you want to be able to do what you need to do quickly and banking straight from the notification shade would improve speed and efficiency for everyone, the shopkeeper, the shopper and the people in the queue.