This is part of series on Open Banking. You may also want to read about:
Open Banking in the dashboard
Open Banking running balances
Open Banking: Income breakdown over time
Open Banking: Disposable income over time
This chart shows expenditure over the period of the connection. Additionally this is compared to the most recent month in a table below the chart.
Click on the 'sub tab' in 'spending' to choose between income and spend.
Loans Officers are able to view changes to expenditure over time and note any recent positive or negative changes.
Clicking a bar or table row for a category, will filter the list of bank transactions below to show just those for the corresponding category.
Note: In most cases the period of the connection will be 12 months. However, this may be less if the account has been recently opened or the bank provides a connection for a shorter period of time.
Trend summary table
A table is provided below the charts showing the change in spending.
An average for the period of the connection is provided and compared to the most recent month.
Neutral categories (e.g. cash withdrawals): Are shown in AMBER if they have increased and GREEN if they have fallen
Negative categories (e.g. gambling): are shown as RED if they have increased and GREEN if they have fallen
Positive categories (e.g. savings): Are shown as GREEN if they have increased and AMBER if they have fallen
View according to priority of spend
You can view transactions according to whether they are essential (needs), discretionary (wants) or commitments (financial payments).
In the chart below only needs are shown.
Note: Currently this includes net transfers. However, transfers will shortly be shown separately in a new tab.
In the view below, only wants are shown:
To remove the unclassified spending simply click the item:
View negative, neutral and positive spends
The view can also be changed, for example to view only negative spend:
Or in the case below, positive items:
Please note: most spend items are considered neutral. Investments and savings are positive and high cost credit, bounced payments etc. are considered negative.
Selecting multiple views
In the view below, all expenditure has been selected, however only negative spend is shown. In order to better understand gambling spend over time bank charges have been deselected:
The chart below shows wants / neutral:
And finally, in this example, negative needs are shown:
Summary changes over time
A table appears below the charts to show the change in spending over time:
The trend arrow above is green because the spend on gambling has fallen and is, therefore, considered a positive change.
In the example below, trends down are shown in green. However trends upwards are shown as amber for neutral spends and red for negative changes:
Note: the above account is newly opened and therefore only shows the most recent four complete months.