A new app is seeking to offer location-based financial advice to its users as it looks to take money management to a new level.
Wallet.Al is the brainchild of Omar Green, the former director of strategic mobile initiatives for financial software company Intuit.
Speaking to the MIT Technology Review, he revealed he is keen to introduce contextual awareness into the software and compared the end result to quantitative trading methods used by many financial firms.
The application uses the handset's built-in sensors to gather a range of information, for instance building up a history of the financial transactions a person has made.
Rick Oglesby, a payments analyst with Aite Group, said financial institutions could be very keen to add the functionality to their services, as it would be a great way to separate them from the competition.
He added there will always be people who want "to think about money all the time".
By Asim Shah