Times Internet Limited, owned by the Times of India group has launched an Android only app called SmartSpends.
Smartspends will organize user’s spend, neatly categorized like amount spent for food, travel, shopping, entertainment and dining. It also claims to organize smarter alerts by setting up a bill calendar to ensure you never miss a bill.
It’s free of cost to download and use. As claims by the company, the application will not read user’s bank account statement and will not ask for bank account details and password. However, last four digit of user’s credit or debit card which are read from transactions alert messages are known to the company. The CVV number, passwords are never stored by the company.
Smartspends identifies your transaction alert messages and extracts only the relevant info such as amount, merchant, date etc. from them. Further, it categorizes those expenses using text-matching algorithms.
All of this happens without any manual input from user’s side and there is no need for the user to put any bank passwords or upload credit card statements
The company claims that Smartspends auto-suggests you the best card to use for each of your spend based on the offer running at merchant’s site.
Currently Smartspends supports SBI, ICICI, HDFC, CITI, AXIS, KOTAK, Standard chartered, HSBC, IDBI, YES, American Express, VODAFONE, AIRTEL,IDEA and Coupondunia.
Smartspends supports all Android versions above 4.0. Unfortunately, iOS version is not currently available for this app.
Times Internet is the maker of great digital consumer brands like TimesofIndia.com, EconomicTimes.com, Indiatimes.com, gaana.com, magicbricks.com and many more.