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F-IQ - May 02, 2023

F-IQ mobile app – new version released

Our flagship product, F-IQ, has undergone many improvements in the latest version, which will soon be available for free download on the AppleStore and GooglePlay platforms. Over the past few weeks, we've been working very hard to improve the categorization of transaction data and the user interface. In addition to the standard functionalities of automatic collection and categorization of transactions from all accounts in any bank, F-IQ now enables smart data filtering, drill-down into individual categories, the "this time last year" function that shows the financial situation from a year ago for easier comparisons with the current situation and many other new features.

F-IQ is a completely free mobile application for tracking personal finances. Regardless of the bank where you have open your accounts, F-IQ allows you to monitor all your finances in a single place.

The main application screen, Dashboard, has also undergone some modifications. The indicator of the current financial situation has been significantly improved and now shows a deviation from zero or to the right, in the green zone, or to the left, in red. If the indicator is in the green zone that means that you are currently spending less you have earned. If the indicator is in the red it means that your current expenses are greater than your income. The greater the deviation from the zero position, the greater the probability of a positive balance at the end of the month (if you are in the green). In the opposite case, if you are in the red, it indicates a problem with liquidity (the more to the left, the bigger the problem).

The F-IQ machine learning system has also been significantly improved. It is now able to automatically recognize recurring expenses and provide accurate information on which regular bills in the current month are still outstanding. This feature has replaced prediction graphs from the long-term financial trend section. These graphs have proven to be incomprehensible and, consequently, useless to most users. We will upgrade the account balance prediction in one of the following versions because we believe that such information is also important for understanding the financial situation. However, the presentation of that assessment will need to undergo significant changes for users to benefit from it.

And, last but not least, we have significantly improved even what is not visible to users: our back-end system for receiving and processing transaction data is now significantly faster, safer and more stable. We have introduced stability controls in connections to the banking systems and our notification system has also been significantly improved.

In short, we hope that working with the new F-IQ application will be much more fun and that you will get a better and more precise insight into your finances.

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