According to a statement from Moneysoft, the app will include eight new reports to give users greater oversight of their finances.
In addition, the company launched an “alert” system which notifies the user when an overly large sum is paid, an account error occurs or an important bill is due.
Moneysoft founder Peter Malekas suggested advisers could use the tool to help clients better understand their financial position.
“It’s important for any Financial Adviser to be able to communicate easily and efficiently about where their clients’ money is being spent and how it’s being made,” he said.
In addition, he said the new features would appeal to users on tight budgets.
“Getting on top of your finances from the beginning is one of the best ways to ensure the success of the your finances and Moneysoft thinks this added functionality will be especially valuable to users that that have to watch every cent,” he said.
According to Mr Malekas, the expansion was supported by recent seed investment in the company.
“Business growth has been strong month-on-month with both the consumer and adviser sectors – we look forward to it continuing as we constantly strive to accelerate growth and delivering the features users need to easily manage their money,” he said.
