Introducing Salto: your bank’s smart friend
There are things in life that we do not learn at school but are actually essential throughout our life. One of them is personal finances.
We have unanswered questions: Can I afford this phone? Am I saving enough for my vacation trip? Will I have enough money at the end of the month? Should I invest part of my savings? And, if so, how much and how should I do it? These questions come to mind, and not having a clear answer makes us make wrong decisions and have no peace of mind about our capital.
The making of Salto
During the last years, Fernando Torcelly and I have looked for a way to solve this. After trying different techniques, studying methodologies and asking questions, we found the main root of the problem: the money that we see in our account is not actually the money we can spend, and this prevents us from planning and making wise decisions.
So we decided to create a solution for this that we iterated until we turned it into Salto, your bank’s smart friend :)
How Salto works
1. Connect your bank accounts anonymously.
2. Salto, that cannot move money, analyses your past transactions.
3. Based on that information, Salto shows you your Real Balance and helps you reach your Goals.
One of the main features of Salto is the Real Balance: With our algorithm, Salto estimates what you will spend in the future (purchases, meals, rentals…) and only shows you the money that you can actually use.
The other one is Goals: In Salto you can create saving goals for the short, medium and long-term. Depending on your financial health, Salto dynamically saves some money every day, so that you have it available when you need it. For example, you can save for your next vacation, for that trip you want to make for so long, for your children’s university, for Christmas gifts…
We want to create a truly intelligent product, without compromising privacy. So, from the very beginning, your data will be invisible to us. Our sync uses bank-grade security, the magic happens on your device and will stay there. We’ll be talking further about this as the final release approaches.
