Copilot Releases Investment-tracking Feature Using Proprietary Metric

NEW YORK, Sept. 15, 2021 /PRNewswire/ — Beginning today, personal finance app Copilot gives users full visibility into their investment accounts. Investments are no longer the exclusive domain of wealth managers, hedge funds and investment banks. Retail investor apps and robo-advisors—like Robinhood, Wealthfront, and others—along with the explosive growth of crypto, have expanded the personal finance space into services well beyond checking, savings, and credit accounts. But with increased access to investing tools, users face a fragmented banking and services landscape that makes it hard for them to both see and understand their financial standing.          

"We’re looking to provide the same level of insight we currently offer on spending patterns and trends across multiple institutions," said Andres Ugarte, Copilot’s founder. The app, launched in January 2020, has already proven that it makes a real impact in people’s lives. "Last year we saw that, in aggregate, Copilot users decreased their monthly spending by around 10% the moment they started using our service," Ugarte added. "That’s huge. That’s money that can now go towards paying credit card debt or into savings and investing. It proves that, by providing a good service that people actually want to use, we’re driving behavioral change." The company is anticipating the new Investments functionality will have a similar effect.              

Copilot’s new features aggregate data from accounts across financial institutions and services, giving users a bird’s-eye view of their money and eliminating the need to track their finances across multiple apps and websites. Copilot’s investment features go beyond the account information available from service providers by leveraging real-time market data. "This makes the whole thing come alive," said Ugarte. "Our goal is to provide an experience that users will want to come back to. We’re trying to make staying on top of one’s finances as engaging and satisfying as checking Instagram."

To further achieve this, Copilot developed a proprietary metric to calculate investment returns for each of their connected accounts. This allows users to benchmark the different apps they use to more clearly see what strategies and services are working for them and which ones aren’t. "Our mission is to make sense of our users’ financial data to help them navigate it," Ugarte said. And this mission is resonating with customers. The company has seen a 40% increase in its user base in the last 2 months alone. "They’re looking for something better, and when they hear about us and try our service they feel a big sense of relief," Ugarte added. "Staying on top of our finances can be really hard and time-consuming. We all need better tools to help us navigate this huge part of our lives."         

With this exciting new feature set, Copilot continues to deliver on its promise to build a personal finance app that understands that the way we bank today has changed.

About Copilot
Founded by an ex-Google engineer, Copilot is a personal finance app that empowers people to understand and control how they spend, save, and invest their money. Copilot’s core functionality combines monthly budgeting with powerful monitoring of transactions, spending, and investments – reimagining how to keep track of our money when it is distributed across multiple accounts and services.

Andres Ugarte
(650) 400-6117

SOURCE Copilot