The Sweden-based budgeting app is making it easier for young people to manage their money
Kosma is Klarna’s financial technology platform for banks, fintechs and retailers.
Buddy’s app, which has more than 3m users, provides budgeting and expense tracking tools.
The partnership with Klarna means users can now check their account balance in real-time, monitor spending and set up payment reminders within the app.
Kosma facilitates access between—and apps like it—and 15,000 banks in 27 countries through its API.
Olle Lind, Buddy’s founder and chief executive officer, commented: “Buddy’s mission is to empower young people with the knowledge of how to spend and save sustainably.
“Through this integration we’re helping individuals gain control of their finances by offering an easy-to-use, intuitive budgeting app that connects directly to their bank feed, helping them to manage their money.”
Wilko Klaassen, vice president for open banking at Klarna Kosma, said: “We are excited to be joining forces with Buddy to make budgeting simple and fun for Gen Z and millennials.
“With Kosma’s help, Buddy could create a smoother consumer experience, resulting in 52% more monthly active users for the Personal Finance Management App.”