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Personal Financial Management

Insights to empower financial health

Powerful data fuels innovation for apps and service providers that help consumers build a stronger financial future.

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Data-driven personal financial management is on the rise

The promise of open finance is rapidly expanding to enable new PFM capabilities.

80%

of Australian consumers prefer to check account balances, pay bills or transfer money online.

73%

of Australian consumers engage with multiple banks beyond their main banks

76%

consumers globally connect financial accounts directly to tools to conduct financial tasks.

70% +

of consumers look towards more convenient financial experiences.

The Mastercard Open Finance advantage

Turn Australia’s Open Banking Data into Trusted, Personal Financial Experiences.

Australian consumers are managing more accounts across more providers than ever before. Mastercard Open Finance helps you turn this growing complexity into clarity, confidence, and value, delivering smarter money management experiences that customers rely on every day.

Built for Australia’s Consumer Data Right (CDR) regime, Mastercard Open Finance enables secure, consented access to financial data and transforms it into actionable insights, personalised guidance, and meaningful engagement, all at scale.

Our partnership with Mastercard allows WeMoney to scale to serve more members in new and exciting ways that improve their overall financial health and better manage money. Through Mastercard's Open Banking capabilities, we're able to deliver more personalised financial insights and solutions that empower Australians to make smarter decisions with their money. This collaboration represents a significant step forward in our mission to help people take control of their finances and build a stronger financial future.

Dan Jovevski WeMoney's Founder and Chief Executive Officer ‎
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Elevated data for unparalleled insights

Mastercard Open Finance for personal financial management delivers account data the way it should be: cleaned, categorised and complete.

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Secure, permissioned data-sharing

Consumers opt into data sharing through the consumer data right, the first step to enabling new financial experiences.

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Statements and snapshots

Bank statements and 24-month transaction snapshots are custom-built for speed and accuracy.

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A comprehensive financial view

Consolidated data from across all accounts including third-party data accessed via open finance and internally held first-party data enable broad portfolio tracking and financial management.

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Detailed spending insights for personalized experiences

Segment, benchmark, and forecast consumer spending to deliver targeted, personalized experiences that boost relevance and drive accelerated growth.

Financial literacy

Supporting financial literacy

A streamlined experience built on superior data helps consumers understand the impact of financial decisions and changes.

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Institutional data sets

Mastercard Open Finance supplies data for advisory services and analytics for financial managers.

1. Mastercard Rise of Open Banking Report, 2024.