Founded in 1999 by Tammy Barton, MyBudget is an Australian financial services firm that helps individuals improve their financial health by providing comprehensive advice on all things money. Every day, MyBudget’s team of financial advisors work with customers to understand their financial situation in depth and help them spend, earn, and invest more wisely.
Having helped more than 100,000 Australians rid themselves of money headaches, MyBudget has now set its sights on expanding into more countries and markets. To this end, the company envisioned building a next-gen digital platform that would allow it to scale quickly and efficiently. Subsequent to learning of Sri Lanka’s reputation for outstanding software engineering, the company conducted a lengthy and open search process through SLASSCOM—the national chamber for the IT/BPM industry in Sri Lanka. After many pitches from a number of other Sri Lankan companies, the shortlisted names were whittled down to one: Us.
Automated personal financial management for the new era
Considering how the core channel of service delivery is through in-person consultations, MyBudget is very much an analogue company. As a result of this natural evolution, different departments had developed their own tools to get things done. For instance, capturing leads from potential customers was handled by the marketing function, and they had developed a process that was completely technology driven and suited them well. On the other hand, the financial advisory function continued to remain old-school, and was very much reminiscent of Wall Street before hi-speed trading and quants took over.
Over a period of two years, teams from Calcey worked side by side with Mybudget’s engineers in Adelaide (remotely of course) to develop MyBudget’s next-gen platform from the ground up. In developing the new platform’s feature blueprint, we observed global trends in the financial services and advisory space and looked at implementing them as seamlessly as possible.
For instance, we took inspiration from AI-driven robo-advisory systems to develop a module that could automatically suggest financial plans to customers based on their personal circumstances. To make things easier for MyBudget’s advisors, we built modules that allow them to use the next-gen platform as a CRM system. Out went the multi-page forms, and in came an easy-to-use portal through which the advisory team could schedule consultations, onboard clients, and track their financial progress.
End to end automation for a new era of growth
Our work with MyBudget helped lay the foundations for an all-encompassing internal technology platform which now powers all of MyBudget’s internal functions, and will do so for a long time. As a result, the company can now view itself as a legitimate fintech, and has now established its own development center not too far away from our offices in Colombo.