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Barclays US Tests Personal Finance Tool

Barclays US is dipping its toe into the financial health business, testing a personal financial management tool that aggregates all of a customer’s Barclays credit cards, personal loans and savings products—as well as accounts with other banks—in one place.

This new service, My Personal Bank, which will be announced soon, is embedded in the bank’s credit card mobile app. The aggregated view of their finances will help users manage their money and enable Barclays to tailor its product offers to those users, the bank says.

“Our goal of building the premier direct bank in the U.S. is driven by the principle that we believe banks should help customers get more out of their finances, for less effort,” says Jeremy Takle, managing director, US Branded Consumer, Barclays.

The tool first will be offered to Barclaycard Arrival Plus World Elite Mastercard cardholders. The first 7,500 to register will have the opportunity to experiment with various sign-up options.

The U.S. team built upon concepts and research already completed by Barclays in the U.K., and My Personal App was taken from concept to pilot in just six months, the bank says.

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