NEW YORK, NY — (Marketwired) — 01/05/15 — Moven, the first app and debit card to provide real-time behavioral feedback to help customers change their spending habits and save more, announced today that it will be the first in personal finance apps to tackle the wearable technology market supporting both the Motorola and smartwatches.
Wearable technology is expected to 78 percent each year until 2018, according to IDC, with the number of devices surpassing 19 million last year alone and expected to reach nearly 112 million by 2018. While the popularity of Fitbit and Jawbone have demonstrated the potential for improving health and wellness via wearable technology, financial wellness has largely been missing from the conversation. Moven–s Spending Meter and Instant Receipt, which improve financial behavior with every purchase by providing real time feedback, were designed with wearable technology in mind.
“Financial wellness is a critical experience currently missing in wearable technology right now, but it–s a necessary one,” said Alex Sion, president of Moven. “Moven focuses on providing instant feedback so a customer can make adjustments to their behaviors in real-time to meet their personal finance goals. This is similar to the experience of many wearable health apps because just like physical wellness, financial wellness is an ongoing effort that can–t be confined to neat buckets in a budget and little impact is made when reviewing days or weeks after the fact. Wearables are poised to help users adjust their spending habits as fast and simple as glancing down at your watch,” he added.
Smartwatch users who install Moven will be able to access key features of the app, including instant receipts that automatically categorize every transaction and provide insights on where users spend their money, as well as the color-coded spending meter, which makes it easy to know where users stand towards meeting personal saving goals and introduces gamification to spending behaviors. Users on the , the leading Android smartwatch device, and the , will be able to check and see if they–re in the green (spending less than their monthly average), yellow (spending around average), or red (spending higher than average) to make more mindful spending decisions and improve their daily financial habits.
“Wearable technology is a powerful way to offer additional support to users looking to improve their spending habits and learn what kind of purchases get them into trouble,” Sion added. “People today are struggling to find a tool that empowers them to improve their financial wellness and combat financial anxiety in a way that doesn–t feel out of sync with their daily routine. Moven is focused on creating positive experiences for customers so that making mindful spending decisions is as easy as checking the time.”
To learn more, visit or download the free app for or .
Moven is the first spending app and debit card that provides real-time behavioral feedback and instant receipts to help customers make smarter decisions and save more. Moven customers receive a debit MasterCard tied to an FDIC-insured account with no monthly fees, as well as instant spending feedback and savings tools built right into the account. Moven–s innovative financial wellness app and debit card is currently available for iPhone and Android users.
To sign up, visit Moven at or download the free app for or . Connect with us on Twitter .
Allie Tedone
Diffusion PR
(646) 571 – 0120
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