Finton partners with Insurely to build a more complete understanding of personal finance

Finton has partnered with Insurely, a leading European provider of financial data infrastructure across pensions, investments, insurance and credit, to expand the financial data available within Finton’s personal finance platform. By combining product-level financial data from Insurely with bank and transaction data, Finton can build a deeper, connected understanding of a person’s financial life and identify changes, risks, opportunities and when there may be a reason to act.

Personal finances are increasingly spread across multiple providers and products. Early data from 400 users connected to Finton’s MVP illustrates the fragmentation: 52% have insurance policies with two or more providers, while 42% have loans from two or more lenders.

Finton already uses bank and transaction data to build an understanding of a person’s financial life. Through the partnership with Insurely, Finton can add detailed data across insurance, loans, mortgages, savings and investments, allowing different parts of a user’s finances to be understood in relation to each other.

The combination adds context that transaction data alone cannot provide. A recurring insurance payment, for example, may reveal little more than an amount and a provider. By combining transaction data with product-level data from Insurely, Finton can understand the underlying policy, track how its cost has changed over time and see when it is due for renewal.

This allows Finton to identify when several signals come together. If the cost of an insurance policy has increased, comparable alternatives are available and renewal is approaching, Finton can surface that opportunity at a moment when it is actually relevant for the user to act.

The same approach can be applied across other areas of personal finance. Loans can be understood in relation to income and monthly expenses, mortgages in the context of housing costs and the wider household economy, and savings and investments alongside liquidity, debt and financial buffers.

The partnership is an important part of the development of Finton Intelligence, the technology Finton uses to understand relationships and changes across a person’s financial life and identify risks, opportunities and relevant next actions.

Insurely provides the financial data infrastructure that gives Finton access to product-level data across multiple financial categories. Combined with Finton’s bank and transaction data, this gives Finton a more complete financial context from which to understand the individual.

“Personal finance has become increasingly fragmented, while financial services still only see a small part of the picture. The real value isn’t just bringing the data together, but understanding how different parts of someone’s finances relate, what has changed and when there is actually a reason to act. Insurely helps us build a much deeper understanding of each person’s financial life,” says Olle Pettersson, founder of Finton.

“AI has enormous potential to transform how people understand and manage their finances, but its value depends on the data underneath it. By giving Finton access to structured data across different parts of personal finance, we provide the financial context their AI needs to move beyond transactions and deliver insights that are genuinely relevant to the individual,” says Martin J. Gylfe, CEO and co-founder of Insurely.