I get that Pearler is primarily a a share trading platform.
However what I would pay a subscription for is a personal financial management app. Something like the US mint program on steroids.
A large portion of the government mandated open banking integrations should now be available for a lot of institutions.
Rather than integration into lots of different apps build the functionality directly into Pearler.
  1. Share trading you do with auto invest. That’s great and there will always be tweaks but think bigger
  2. Banking with the new API’s in place means we shouldn’t even need to log into internet banking. Have an account view and functionality that allows transfers and bill payment from within the app across multiple banks. Some bankers do push notifications but if you have the data no reason the app can’t do it.
  3. People are talking about sharesight integration. Why should you need to be updating an external program with your share purchases when you buy them through say Pearler. Ideally you should receive an exception notification saying - hey you got a dividend and at worst confirm it but if it has your bank and share details is should be automagically confirmed. It knows your share details and your bank accounts.
  4. Super tracking. A no brainer. When they come online it should be providing push notifications saying you have received an employer contribution etc.
  5. Spending categorisation. Once again you have the data. Rather than an external program bring it into the same tabbed view. From here you can bring in the reporting and consolidate it for a more comprehensive view of how you are travelling.
  6. Property - many investors have this as a part of your portfolio. Some way of recording this for net worth purposes and reporting calculations. Link in to RPData or realestate.com.au. The bank statements will show the actual so you can calculate returns.
  7. Insurance -somewhere to record insurances etc for reporting and link to assets such as property.
  8. Granted views. Can you imagine applying for a loan with this. These details would mean give this view to a bank during an application. Fill in these forms? No Mr banker YOU fill in these forms - here is a view on my data.
  9. Phone app. This you want for notifications, scanning receipts, functionality like beem it etc. say when you pay on your mobile it pops up the opportunity to scan the receipt or confirm categorisation.
  10. Basically a wizard to allow the functionality of a financial advisor. Things like insurance checklists, super checklists, Loan rate review reminders etc
Is this big - you bet.
Is it going to happen. Absolutely.
Is there a member of the fire community or any one who is financially minded that won’t pay $500 per year for this - no.
Now is the time to go big or go home. JV it or get some venture capital before some overseas mob does as they have had open banking for a while. Get a shitload of developers and run with it.
My 2c worth.