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MoneyCoach

Manage your finances today for a better future tomorrow

Objectives

Realtime Net Worth
The user should be able to keep track of every account that he has in every possible currency. And then it should reflect your current net worth in your main currency
Intelligent reporting
The user should be able to understand his financial situation at a glance, immediately. Then, if he needs to go into details, the app can handle that
Modern and easy to use
The app should always support the latest devices and technologies, keeping the same pace with the Apple ecosystem. This is easier said than done

Product Description

MoneyCoach is an enhanced personal finance management app that helps users manage their finances and build better spending habits.

MoneyCoach achieves this through personalized tips, financial tutorials and by providing daily insights. The app combines state of the art technologies with behavioral psychology and machine learning, making it one of the most innovative finance apps out there.

MoneyCoach has been awarded multiple prizes, featured worldwide by Apple in the App Store. And recently it was installed by Apple on every new iPhone, in every physical Apple Store across Germany.

“The best money management app I have ever used ❤️👏”

User Review

Product Features

Realtime Net Worth
With MoneyCoach you have the ability to see your net worth in realtime, as a sum of all your accounts.
You can have as many accounts as you like, in any currency you like. MoneyCoach supports more than 160 currencies. 
Connecting to a currency exchange API, MoneyCoach will automatically convert and show your actual net worth. 
This solution is perfect for people who travel a lot or for power business users.
Cash Transactions
MoneyCoach supports super fast cash transaction entry via Natural Language Processing. 
You can write in the app “5 bucks for drinks from my credit card” and MoneyCoach will automatically detect the currency and amount.
 It will even detect the category and the account you are adding this transaction to. The best of it is that it runs on device and it is tailored to your use and transaction history.
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Budgets and Goals
With MoneyCoach you can create a smart goal and achieve your dreams.
 During this time, MoneyCoach will remind you to work towards your goal and help you achieve it with different behavioral nudges.
 You can also set budgets for the different categories, set different time intervals and stick to them.
 These features are developed to be as customizable as possible, catering to every use case.
Private and Secure
Every transaction is stored on the device, there is no backend involved. MoneyCoach cares about its user’s privacy.
 Because of this, the app can be protected via Touch ID, Face ID or Passcode, while keeping all data secure on device.
 For users with multiple iOS devices, the sync feature can be activated.
 The Cloud Sync happens in the user’s iCloud account, totally encrypted.
Customizable Overview

The home screen can be completely customizable and catered to your preferences.
Special care was taken in designing and developing every card in this screen. 
The goal is to display the most important financial tips in a personal dashboard.
You will be amazed how easy it is to switch to a different dashboard or configuration.
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Challenges

Everything on device
MoneyCoach is mobile first and offline first. And all your data can be accessed only by you on all your iOS devices. 
This approach is quite complex to realize if you consider that a top-notch application has to support sync across all devices.
 And even in 2018, sync is a hard thing to achieve in a flawless way.
Subscription System
MoneyCoach has a subscription-based business model. The StoreKit APIs were used to handle that.
 Combining that with a referral system that rewards users with different premium features is a challenging thing.
 Receipt validation is being done as well, to make sure that there are no users cheating the system.
Machine Learning on premise
At MoneyCoach, privacy is paramount. That is why CoreML is being implemented and run on device. 
Based on the user’s history, the recommendation engine will suggest to the user different actions in order to improve his finances.

Tech Applied

The tech applied in MoneyCoach is quite complex, because many technologies and frameworks play together to create a great experience for the users.

We are mentioning some of the most important or coolest ones.

Core Data
MoneyCoach stores all its data on device, without the need of a backend system. In this way, the data stay safe and belong to the user.
 Core Data is the perfect solution for this. Core Data was optimized for some special use cases in MoneyCoach.
 A sync framework was added to Core Data, so that the Cloud Sync happens using CloudKit.
NLP
MoneyCoach makes use of the Natural Language Processing framework for tag and intent detection when entering a new transaction via the Quick Entry. 
The same framework is being used when processing spoken requests via Siri Shortcuts or when importing a CSV from a bank.
watchOS
The MoneyCoach Watch app is the perfect companion app for Apple Watch. 
Developed using the native frameworks, it allows users to view in a glance what is happening with their finances.
 It also allows users to add a transaction from their wrist or to execute a Siri Shortcut.
Swift + Objective-C
The app was developed using both languages. The new part is being developed in Swift and the old Objective-C part is being migrated step by step. 
Being able to mix and match both languages, it allows for future extensibility and improved performance.
AutoLayout
Every screen is being rendered with the help of the AutoLayout engine. No fancy other third-party frameworks, that bog down the app.
 Using AutoLayout gives you the possibility to support all the latest devices with ease, while at the same time being ready for the future.
HomePod and CarPlay
MoneyCoach works on HomePod as well. You can ask MoneyCoach questions about your most important financial topics, such as net worth, daily budget, remaining budget for this month, etc. The coolest thing is that it will work on all your devices, and only with your voice (if you haven’t specified otherwise).
 You can also ask MoneyCoach while in your CarPlay-enabled car.
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The Result

MoneyCoach is available worldwide, localized in more than 11 languages. More than 1 million downloads were gathered in the last 2 years and thousands of positive reviews.

MoneyCoach was awarded different prizes for its quality, support for the latest technologies and ease of use. The team contributed with their skills to the grand vision and mission that MoneyCoach has in the world of personal finances.

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