Financial protection company BillGuard has announced the launch of its platform on Android phones and tablets, as well as upgrades to the service across iOS that will alert users to possible data breaches associated with their debit or credit cards. Inspired in part by last year’s Target data breach, BillGuard has sought to update its financial security platform to be more engaging, and more useful for consumers over the long term.
Instead of simply tracking a user’s spending, BillGuard says all personal finance apps should help protect consumers from fraudulent or otherwise wrongful charges, with this updated BillGuard experience offering data breach alerts to do just that. Now, BillGuard sends users personalized data breach alerts via both email and mobile when a business they’ve shopped at has been breached.
The BillGuard platform focuses on short term check-ins for spending, rather than lofty long-term goals. Users can view all of their charges in an inbox feed, and can swipe to confirm them, mark charges for later follow-up, or dispute unwanted or unrecognized charges directly with the associated merchant from within the app.
The app’s dashboard offers a breakdown of a user’s accounts and spending, including monthly budgets, a look at spending per category, current account balances, bill due dates and more.
Since its launch on iOS last summer, BillGuard has acquired 500,000 registered users. Since the Target data breach, the app has helped users identify more than $1 million in fraudulent transactions, and has flagged over $60 million in suspect charges. This figure includes grey charges, or items users may have authorized and then forget about (like a free trial which turns into a paid subscription).
The BillGuard platform is available to download and use for free on iOS and Android. It’s built on bank-level security, and requires read-only access to credit and debit card activity. No money can be moved within the BillGuard app.
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