Walnut: An Intelligent Expense Manager App !
Einstein once said that technology will make the coming generations lazy. Mobile applications seem to be proving that right. Apps deal with the basic yet most important aspects of human life- communication, information and management. With such vital needs simplified and automated, our daily lives can be much laid-back.
In Walnut, you can find a new app which will organize your finances and will make you a lazier person. Without opening the app once and without making any manual entry, you can track your expenses with a single click.
What is Walnut?
Walnut is an expense manager app that helps you manage your spending, bank transactions and other bills. It is fully automated and it happens based on analyzing the keywords in your SMSs. The app scans your SMS inbox for keywords, filters the SMSs from banks regarding your transaction via internet banking, credit and debit card and adds the expenses in its sheet. All this with proper security settings.
Click here for most common questions.
Walnut also goes through merchants’ SMSs (Flipkart, BookMyShow etc) to give complete expenditure details of all your transactions. You can have a good insight of your financial transactions from single day to years at one place at one click.
Walnut promptly reads your SMS coming from banks and merchants. Since the app is SMS based, you don’t need to connect bank accounts or other merchant account details with the app.
Most important feature of the app is it works on its own without much interference. You don’t need to give any inputs of your transactions and expenditure to the app (this feature makes the app stand apart). It starts working the moment you download it. And of course, even if you want to add your own expenses manually, you can do that, which is optional.
Competition
There are thousands of expense manager apps like Smart Budget, Daily Expense Manager and Financius. Many of them offer similar functionalities with little changes here and there. Walnut overtakes the others as it goes a step ahead in the SMS analysis feature. None of the apps have zeroed in on the financial factor covering all the aspects from banks to merchants.
Currently Walnut is available only on Android platform. Developers need to consider iOS, Windows and BlackBerry users in coming time.
- Walnut only looks at messages coming from business’s like Banks, Merchants, etc. It does not look at or analyse your personal communication, i.e. anything coming from a 10-digit Mobile Number.
- Walnut is just a view on your SMS inbox. Walnut does not have access to your Bank Account.
- Walnut does not upload any of your messages or transactional data. Only when you categorize a spend, anonymized merchant data is sent to the server. No transaction data is sent.
- The banking and financial institutes will be using technology more and more in coming time, so Walnut has a better chance of growing.
- Based out of Pune, Walnut is brainchild of Amit Bhor and Patanjali Somayaji. Six months ago, they started working on this idea. The thought process began with studying the communication aspect of apps. The makers were pondering upon how people have moved on social networking apps for communication and how SMSs remain only for financial information.
