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Financial management platform CRED on Thursday launched CRED Money, a platform that offers a unified view of user’s balances, transactions, and patterns across bank accounts.

“CRED Money is built on the account aggregator (AA) framework, which enables consumers to permit secure and encrypted sharing of their bank account information between authorised organisations,” the Kunal Shah-led fintech company said in a statement. 

The platform will send reminders and updates to users, as well as provide easy ways to act on recurring payments like SIPs, EMIs, rent, staff salaries, or insurance premiums, and offer to settle them directly with CRED UPI. 

The company will roll out CRED Money to its members in phases.

Users can also analyse their spending patterns across bank accounts and search by merchant or category, enabling them to understand their financial behaviour. They can also easily track their transactions, including dividends on forgotten investments, payment reversals, tax refunds, etc.

CRED’s new offering uses advanced data science that turns data points into actionable insights, enabling users to plan and use their money more effectively. 

The Bengaluru-based fintech unicorn reported a 3.5X growth in total income in FY23 compared to Rs 422 crore in FY22. It clocked in Rs 1,400 crore in revenue from operations, while its losses widened by 5% to Rs 1,345.9 crore in FY23. It is yet to release its FY24 earnings.