Online financial management company Mint.com is making available an upgrade to its popular free iPhone app that allows customers several new features. The new features include alerts for bank transactions and balances; on the fly tagging of for purchases and transactions; and device-level security features unavailable in previous versions of the app. The increased functionality was released in response to customer feedback and requests, as well as an effort to take advantage of the iPhone’s new OS3 software.
A primary focus of this upgrade is to give customers real time updates on their Mint.com accounts so that they can more carefully manage their finances at a pace more suited to those used to a lifestyle where voicemail and text messages are utilized on a daily basis. It is also designed to make the service more convenient to access rather than requiring users to log in each time they wish to check out updates to their balance or need to confirm if a transaction has gone through the monitoring service.
Since Mint.com is a free service, they monitor over $50 billion in assets, tracking $200 billion in transaction since their launch in the fourth quarter of 2007. The core purpose of the service is to help consumers save money by being able to better monitor their spending habits at the micro level in a fast paced digital world where it is easy to lose track of digital spending.