What do you think of the new Activity feature in the BNZ app

Hey Tony.
You will be able to access this absolutely! We ate still rolling this update out. Just keep your eye out for updates over the next couple of weeks and you will see it come though. Cheers :slight_smile:

Looks like BNZ is doing some deep inspection of my transactions. Is this being done by BNZ or a third party?

Is this information being shared or sold to any third parties?

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Hi @Garth, thanks for the question. Your data is still stored with BNZ, and it is not being shared with, or sold to a third party.
Cheers,
Sarah

Thanks Sarah. I was hoping you might clarify if the BNZ be selling access to any of the behavioural data that is generated by this system, for advertising or other targeting.

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Hi @Garth - I’m the Digital Product Owner who both built and owns this experience. I can reassure we’re not sharing any information we’re generating with any external, or third party. Nor are we collecting anything new or sharing it even internally for any purpose other than to display back to customers. Rather what we’re trying to achieve is take all the banking jargon stuff we receive (MCC codes from merchants, transaction codes) and make it more user friendly for customers to take the hard work out of having to work stuff out themselves. It’s all internal and for no wider purpose then to help people know their money better. We respect your data is yours, lets make sure you understand it.

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@Garth hope this has answered your question, but if you wanted to chat more to understand what we’ve done and how we’ve done it, happy if you want to email me direct on Jenni_Ralph@bnz.co.nz

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Hi there - was looking into personal budgeting solutions (eg; Pocketsmith and/or Mint) so this was promising… it looks like you can’t produce a year end report though (which would be great)? And did I see that you could create your own categories? Lastly, I can’t find this “Activity” feature in the desktop - which would be great because of the size of the screen… and if you were able to produce reports…

Hi there,

Great feature. A few things:

  1. There should be a way to export this data as part of transaction exports. There doesn’t seem to be today, is this something you are looking at?

  2. When in Activity > Track your spend it would be good if you also had arrows forward and back besides the “All Categories” filter. So I can cycle through each category more easily than selecting filter > turning all off > turning one on > looking then changing filter again by turning one off > turning another one on.

  3. In the filter list, there should perhaps be a way to see which categories have $0 spend maybe they appear in a secondary list with a subheading or something.

  4. When you change a category on a transaction line, ideally it would tell me there are other transactions that are identical (example the same merchant purchased from) and offer to update all or not.

A good start overall, hope it continues and some of these features come to market!

Cheers,
Ben

PS - it took me a lot of effort to give this feedback because you can’t seem to sign up to community with a gmail account…

Great feature, very pleased with it (even if it has taken ages to arrive :stuck_out_tongue_winking_eye: ). The only thing missing for me is to have the option to set a budget/limit on a category.

It would be great if this could be account specific. We have different accounts for different people and different purposes and would therefore like to narrow down the number of accounts the data is taken from. For example I would like to see my spending from my account separate from what we spend out of our family account. We also have a business account which would be good to see separate from our personal accounts.

Hi @Bensmith12 - pleased you like it!! You’ll be pleased to know that exact feature is on our backlog and what we’re working towards. We’re currently creating some of the technical enablers to ensure that we can ‘create, update and track’ category budgets, so it won’t be a fast follower but we’ll look to unlock this feature sometime this year. We’re committed to building this experience up, this is just the start!! :smiley:

Kia Ora @Hursty - you can filter the accounts you might want to hone in on, by navigating to the accounts display menu on the top right hand corner (three white dots). Under this menu you can set how you want your accounts to present on the ‘Accounts’ TAB but you can also filter accounts you want to see under the ‘Activity’ TAB. That way you can see your spend separate from your family’s spend if they’re different accounts. Hope this info helps.

Hey @itsBen - appreciate you providing such awesomely detailed feedback! I’ve captured all these feature suggestions in a list we compile from all the different methods we get feedback. We then attempt to identify patterns (how many people are asking for the same stuff) this gives weight to whether something might be more useful over something else and helps us prioritise. So I can’t confirm whether we’ll be able to build all these things, but we’ll definitely consider them. What I can confirm is we’re actively working on the next features now, so this is just the start and we’ve got more cool stuff to come.

Howdy @steveniseven nice that you’re so invested and willing to do some comparison to make sure this meets your needs.

Currently we can’t produce a year report - but this is something that we’ve ideated and tested, so there’s potential we’ll enable something similar. We’ve started with 24 categories (this is double what a number of other APPs offer), but we know it’s still not enough to allow people to split their money in a way they deem sensible. So we’re investigating new ways that people can add more unique labels to help them get more granular and personalised.

All these and others are great ideas and the challenge we have is what should we build, when should we enable it. That all comes down to prioritisation and what do customers desire the most that aligns with our mission and purpose. This was one of the deciding factors for why we went mobile verses desktop, the majority of our customers are mobile, and that’s growing everyday, whilst desktop usage of our digital services is declining. Do we spread ourselves across two platforms and offer less features or run hard at mobile? Mobile is where we’ve started. If the evidence says we should do something more/else we need to listen and respond, there is more to come.

Thanks Jenni
Can we also create our own categories?
Cheers
Jeff

Couple other bits of feedback…

  1. The ability to have subcategories, for example, shopping- kids, adults.
  2. The ability to split a transaction across multiple categories, for example, sometimes shopping could be for a necessity and a nice to have. Would be good to differentiate these.

Hi @Hursty - rather than more or personalised categories what we’re looking at as #Tagging, that way people will be able to add to a transaction, maybe multiple #Tags i.e: #Christmas; #Hubby, so they can personalise and filter to their hearts content. It’s one of the many ideas and improvements we’re working through.

Hey @shazza - great feedback - you might have read on some of my other replies that we’re looking at #Tagging that will help with the ‘subcategories’ that you’ve mentioned. It’s definately something that has a high priority as it’s something that gets raised a bit. Splitting a transaction hasn’t come up before, but I can see how it would help - so we’ll add this to our backlog and see whether this is something we might consider in the future.

A lot of my spending is on a non-BNZ credit card. Any plans for open banking integration so I can see everything on one screen?

Hey Jenni.

Sorry, super slow reply. Tagging is a cool idea, but not as a replacement for subcategories. It just doesn’t give you the transparency and specificity to be able to budget and track at a more granular level. For example, if I allocate a budget each month to expenditure for kids, and I then want to split that against clothing, activities and toys. With a tag, I’m not going to get the connection to the upper category. I need to be able to have that roll up/roll down perspective. Like if I’ve allocated $200, and then I look at it at a rolled up view and I’m tracking at $150 by week 2, I want to then drill down to the subcategories to see specifically where I am overspending. And i could have a budget allocated to each of those subcategories rather than at the top level, so it automatically calculates the rolled up total.