Money Brilliant

MoneyBrilliant was a personal finance management application that provided users with a consolidated view of their finances. Initially launched as 'Cha-Ching' in 2011 by founder Peter Lord, the venture was inspired by his mother's financial challenges near retirement. Lord, who had a background working at the Commonwealth Bank, envisioned a tool to empower individuals to make more informed financial decisions by offering a complete picture of their financial situation.

The platform operated as a virtual financial assistant, available on both web and mobile, allowing users to connect hundreds of Australian and international financial accounts. This included bank accounts, credit cards, loans, superannuation, and investments. The application automatically categorized transactions, organized bills, and helped users track their spending against their pay cycle. A key feature was 'Safe Spending', which, after accounting for bills, would indicate how much a user could spend without dipping into savings. The business model was freemium; a basic service was free, while a premium subscription unlocked advanced features like viewing net worth, accessing longer transaction histories, and enhanced savings tools.

In 2014, MoneyBrilliant secured a significant milestone with a $1.5 million seed funding round from AMP, a major Australian financial services company. This partnership was based on a shared objective to improve the financial wellbeing of Australians. Following this investment, AMP fully acquired MoneyBrilliant in March 2016 for an undisclosed sum. Co-founder and CEO Jemma Enright departed after the acquisition, with Peter Lalor appointed as the new CEO. The company continued to operate as an independent entity under AMP's ownership. In December 2021, Westpac Banking Corporation announced it would acquire MoneyBrilliant from AMP and management shareholders, with plans to integrate its technology into Westpac's own digital banking app. However, following the acquisition, the MoneyBrilliant app and web services were officially closed down on December 16, 2022.

Keywords: personal finance management, budgeting app, financial assistant, cashflow tool, expense tracking, superannuation aggregation, investment tracking, bill management, net worth calculator, Australian fintech, AMP, Westpac, Peter Lord, Jemma Enright, financial wellbeing, money management, savings tool, financial data aggregation, Cha-Ching, digital banking integration