Swiss- and Liechtenstein-based app providers have several personal finance apps available. YUH is just one example, although a good one. These apps make financial management easy for the average user.

Postfinance and Swissquote launched the YUH app in Liechtenstein as a new way to manage personal finances. The app is available in Liechtenstein, Switzerland, Austria, Germany, France, and Italy and counts more than 100,000 users. The goal is to enable users to easily and securely access their financial accounts and manage their money through an app on their mobile devices.

What is a personal finance app?

YUH is not an online banking app but a personal finance app. A range of other apps is in this market, such as Volt or Inyova. Recently the Liechtensteinische Landesbank LLB launched an application called WiLLBe.

YUH can connect with multiple bank accounts, including those held with other financial institutions. This means that users can easily view and manage all of their financial accounts in one place, making it easier to keep track of their money and make informed financial decisions.

In addition to its account aggregation capabilities, the YUH app offers a wide range of other features to help users manage their finances. These include the ability to transfer money between accounts, pay bills, set up direct debits, and view detailed account information and transaction history.

Another great feature of the YUH app is its relatively user-friendly interface, which makes it easy to navigate and find the information needed. The app also offers a variety of helpful financial tools, such as budgeting and savings calculators, which can help users stay on top of their finances and reach their financial goals.

Facilitating a best-in-class approach

In an age where consumers select financial service providers according to a best-in-class approach, apps like YUH can make life much easier. Most consumers today have multiple bank accounts at different banks, accounts with several stock brokers, and maybe also different savings accounts. It can be challenging to keep the overview.

For years, apps to consolidate financial information have been mostly reserved for wealthy clients. Wealth management platforms like the Swiss-based app Altoo for example, offer their users a wide range of wealth consolidation spanning across bank accounts, stocks, real estate, and many different asset classes. These apps are way more sophisticated than a personal finance apps like YUH and too expensive for the average user. With technology progressing, such wealth management platforms will increasingly become accessible to mainstream users. Apps like YUH are a step in this direction.

Anyone with a bank account in Liechtenstein can use YUH. The app is available for free on both iOS and Android devices. It also comes with advanced security features and the backing of two established financial institutions.

Image: © Shutterstock