Force self-control on yourself with HSBC's SmartSave app

A Forbes article released this year showed an alarming statistic. 63 percent of Americans do not have enough savings to cover a $500 emergency. Financial apps are a potential solution for those who struggle to save. HSCBC and micro-savings tech company Pariti have partnered up to create a new app that automatically transfers money into savings or investments accounts. Users get to determine under what conditions this happens.

The app has the technology to analyze a user's bank account then users decide how frequently money is pushed directly into a savings account. Additionally, users also have the option of getting the app to direct money into their savings account whenever unnecessary shopping occurs at user-specified stores occur. Basically, it is a form of self-inflicted ‘punishment.'

PSFK provides access to this article and every report, case-study, interview, and analysis that we publish for our members. PSFK Professional Membership also unlocks accessto unlimited customized research assistance and our database of over 100,000 insights on innovation trendspanning across eight industry sectors—from culture and brand to retail and customer experience.
Already a members? Log in