New Finance Apps And Tools Helps In Account Aggregation
New Finance Apps And Tools
You will need to manage your account well if you want better finance management. For this, it is best to use different finance apps and tools. These new and useful apps have all the required features to make the complex finance management process far simpler and quicker.
Most importantly, these tools will ensure that your accounts are flawless and updated. This will help you in ways more than one such as you can get any information from it as and when required for making your payments, saving money or investing it in some productive sources to make your future secure.
About account aggregation
Account aggregation is one of the most important aspects of financial management that has lots of features and benefits.
It is a specialized service that will help you to consolidate all the required and desired information from several different financial accounts in a single and more convenient place. It is much like debt consolidation that rolls all your debts into one single large loan that you may take out from a traditional bank, any other financial organization or even from any reliable online sources such as libertylending and others.
- As useful as other financial software apps and tools, the app for account aggregation will also have useful features that will facilitate automated transaction downloads.
- This special software also has the skill to configure the account details and extract all relevant info to show you the details for multiple numbers of accounts on one single screen.
- You can use this specific tool in reference to web-based financial tools which is the ideal way to make the most use of it.
It is then you will be able to see all the accounts including your credit card account, brokerage account, savings account, loan account in one page. You may hold all these accounts in one single bank or financial institution or across several different financial institutions. But the results will be the same always and every time you use this tool.
The importance of account aggregation
This specific tool for account aggregation is very important for finance management and at the same time, it is critical as well. It is for the simple reason that you want to see all your financial accounts in one place.
- The tool will relieve you from the pain of visiting different sites to find all the info you need. Which is difficult as well when it comes to client relationships especially.
- The tool will also help you to stay on top of all fiduciary responsibilities of yours. Moreover, allowing you to oversee all the accounts easily and quickly.
- Apart from managing all your accounts, the tool will help in reporting as well by putting all the accounts in one place. As to ensure consolidated reporting as well as simplified management.
- With aggregation integration, you will also be able to add those accounts that are held away making your reporting true and complete.
- It will help you to see the complete wealth picture of you or your clients as the case may be.
Finance Apps Advantages
The most significant benefit of account aggregation is that it provides absolute security. If you have clients having their accounts held at random institutions. You will be able to access these as well through this tool. You will not have to face the issue of having to store. Moreover, you will know all those additional passwords that are required to visit different websites.
If you want to alleviate the security risks even more then you can also go for a third party aggregation service. This will resolve the security risks. Such as having the staff maintain and have access to personal logins of the customers for their held-away accounts.
To obtain the financial snapshots by using account aggregation software online or desktop, the process is simple.
- You will just need to access only one software program
- Log into the desired website and
- Open one app.
You will be able to see all the financial accounts. All the transactions made as well as all related data in one place to make your reporting.
Setting up account aggregation
When you want to set up the account aggregation tool, you will first have to have online banking relations with the financial institutions that hold each or all of your accounts.
- After that, you will need to register each of your accounts in the aggregation platform. You can do this by setting up a routine.
- Make sure that in the routine you specify the location where each of your financial accounts is held
- The username or account number and
- Password for each of the account.
Once you log into the software using your password, it will start using the aggregation service. It will securely present the required login information and passwords to all of the financial institutions individually that holds your financial accounts.
All data are then downloaded from your accounts, a process called “scraping,”. It displayed for you to see in one single place.
Account aggregation safety
Account aggregation ensures giving greater detail and advice safely. This detailed information includes the daily cash flow as well as all your longterm prognoses. This is very useful for your financial planning process as it is safe, comprehensive as well as holistic.
- You will be able to see everything in a way that is easy to understand. So that you can make more accurate recommendations and at the same time anticipate the needs of your clients better.
- The software only allows access to view the account balances and transactions through a direct connection. This, however, does not allow the user to make any transaction thereby making it safer. The automated system will collect all the relevant information just in the same way that you may have done personally when you logged on yourself.
- The account aggregation software also has all advanced security features. As it will need additional authentication if you log in from an unknown computer.
Therefore, if you want to take an active role in your own financial management, then make sure that you use this software for your convenience.
