Bunq, the Netherlands-based active mobile bank, has introduced a series of updates, aimed at offering its customers more insights on their expense reports.
The mobile banking platform has also made a few changes to its VAT management portal to improve the experience of business users.
Bunq has upgraded its existing Slice Group feature by introducing an add-on feature AutoSlice. The Slice Group feature allows you to create groups with your friends who use Bunq Travel Card.
The feature generates a report that keeps track of the expenses made by each group member. With the new AutoSlice add-on feature, you can temporarily add all cards to the Slice Group.
The mobile banking application’s Bunq Insights feature automatically analyses purchases and categorizes payments to offer you more insight into your spending habits.
The feature is powered with data analytics technology that digs deep into your purchase history and gives you figures on how much you would be left with the end of the month if you continue with the same purchasing trend.
One of the newly added features offers information on currency exchange rates of the country that you are planning to visit. It allows you to share the information with other Bunq users as well.
Bunq recently revealed that it would support Apple Pay; however, the support is only limited to Premium, Joint, Pack, and Business users.
The newly added features were also focused on attracting more business customers. The AutoVat feature will automatically calculate your VAT spends and the VAT amount that you are yet to pay.
Launched in 2015 by Ali Niknam, Bunq offers personal and business accounts, with a range of financial services through its mobile app.
It is an independent bank that targets customers worldwide, allowing them to share their accounts with other Bunq users.
The bank raised €16.7 million in its seed round of funding, held in September 2015. Bunq offers a subscription plan to its users that comes with three cards and twenty-five accounts.
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