Research By Markets adds Market Research Report - Market Research Report on Competitor Profile: Cleo
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Competitor Profile: Cleo
Cleo is a conversational virtual assistant that allows customers to easily manage their finances. Developed in 2016 as a personal money management tool, Cleo now has 2.9 million users and has made over 850 million transactions. Cleo is aimed at tech-savvy 20-30-year-olds and has been designed to feel like talking to a friend on social media. While Cleo is also an account aggregator like Yolt, it is primarily designed to make personal financial management more interesting and engaging, as well as easier.
The app uses the Salt Edge API to view customer transaction data and asks users to categorize their monthly spending on the app before beginning. Users can set a budget spanning a custom time period and filter their spending data. Cleo can be used via Facebook, text message, Alexa, Google Home, and the Cleo app.
This report provides information and insights into Cleo, including comprehensive coverage of its products and services, a comparative assessment against key competitors, information on its performance and revenue model, and a breakdown of important events and milestones.
– Cleo is currently growing at approximately 12 users a minute.
– Cleo’s smart save feature automatically saves money for users by taking out a small amount of money each week when it thinks the user can afford it. This is put into a non-interest-bearing account called Cleo Wallet.
– Cleo earns commission revenue for successfully switching a customer’s bills and for its subscription service, Cleo Plus.
Reasons to buy
– Gain insights into Cleo’s business operations and key events.
– Explore its product portfolio and open banking model.
– Assess the competitive dynamics in the retail banking industry by comparing Cleo’s performance against competitors.
Terry & Sandy
Bain & Company
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