Nepali App Helps to Manage Income and Savings

Nepali youth have created a ‘financial tracker’ app to help manage income and savings. This app was developed by Aria Technology to assist Nepali people in managing their income and saving by increasing their financial literacy.

Coming with the slogan ‘Earn, Save and Grow’, this app is like the ‘Personal Financial Tracking App’ made in other countries. But it also has the Nepali language, Nepali date, and other additional facilities, says Manoj Bhushan, co-founder and managing director of the company.

Such apps made in other countries usually have the feature of keeping only the details of income and expenses. But this app created by Arya can also include loans and assets.

Manoj says that the ‘Goal’ feature in the app will help in setting and following the goal of the property.” You should arrange for your own new home if you dream of it,” he said. Suppose you plan to buy a house in 5 years, according to this app reminds you daily, weekly, or monthly by setting certain goals.

Designed to be run offline, this app should be online to view financial literacy-related content. You must first register to use the app. But Manoj says that information other than the user’s mobile number will not be kept in the system of the app.

“Right now, all of the information that users have in the app is built to be saved on their phones,” he said.
According to Manoj, users will be able to use such a facility in the next two months.

The company plans to include financial literacy videos and blogs in the app. There will be information on where to take a loan, policy rules to take care of, insurance, IPO filing, mobile banking, and how to use a wallet.

Another co-founder of the company, Vibhor Kayastha, is also a financial literacy instructor. He has given training to the citizens of rural areas of Nepal through INGOs.

Since 2011, Vibhor has provided various training to Nepali workers going to India in search of work. They also changed their minds about income and savings. But writing budgets in diaries and copies was not very effective.

According to Vibhor, the number of downloads of the app has reached 1000 in the two months since the service was launched. About 50 percent of the active users are more than 500.

He said that work is being done to modify the app and add features based on the feedback given by the users. “Some of the suggestions and feedback are related to different service providers,” he said.

The company plans to interlink mobile banking and wallets with this app in the coming days as the number of users is increasing. This will allow users to track their headline spending from this app. He also said that there is a plan to have a share portfolio in the property app.

The company has stated that no fee will be charged to the user even in the future. The company is creating a modality of charging fees from service providers saying that there is a model of charging fees only to users everywhere.