Collate is an exciting new personal finance management tool developed by 6 students studying Business and IT at Queen’s. Essentially it will allow those who own a credit or debit card to:
- Manage their finances across many cards
- Monitor their spending patterns in the form of graphs and tables
- Secure real-time management of accounts
- Budget calculating & user alerts
The enterprising students came up with the idea in late September 2009 after realising there was no comprehensive tool which could be relied upon to “collate” all of consumer’s expenses onto one platform.
Our studies have shown that monitoring money through the Collate tool could provide much needed assistance for students living on a budget. A problem which we have all experienced is mystery spending: where is the money we spend which cannot be accounted for? Research commissioned by Visa UK states: On average a UK adult spends £33 in cash every week with no recollection of what that money bought. Collate is anticipated to solve this common problem with its detailed organisation of all a card holder’s accounts in one place.
To subscribe to the Collate online tool, consumers will pay a mere £1 per month. In retrospect, this will be small amount compared to how much of a saving consumers are expected to make from this tool in the long term.
We aim to roll out this service in the next few months to the public. In the meantime we will be vigorously testing and making sure the site is of the highest quality and security to help consumers manage their finances effectively.
If you would like to know more about our service or have any questions you can email us at: collateltd@googlemail.com or call our Sales and Marketing director, Emma Bleakley on 07922884575.