We are pleased to introduce Oval 7 - much more than just an update! The app’s new version summarises Oval’s entire journey, from day one to right now. This version keeps faithful to our vision of accessible financial management, through features that will help you manage your money in the best possible way and build the good financial habits you have always wanted to.
At the heart of the new app are the Smart Rules, our new mechanism that allows you to build up your savings and investments in full autonomy, making them personalised, automatic and recurring.
Oval thus becomes the perfect solution for people who want to add a smart tool to their account to better manage their savings, but also for those who want to make payments in a smart way with a single app, forgetting the costs of traditional bank accounts.
Moreover, it was you who suggested many of the new features - in fact, it was our Community of Ovalers that guided our choices. You have been the main actor behind this important step in our growth.
Oval 7, why?
In recent years Oval has grown and matured in a remarkable manner, just like the financial awareness of our team and of our users who have been with us since the beginning. At the start, we conceived Oval as a digital money box with an innovative experience. Down the line, we integrated our investment tools and, finally, the payment functions, all in one app.
Having added together so many pieces and features, we have felt the need to rationalise and simplify our offering, and develop synergies between the different parts of the app to guarantee you the best possible experience. You can see this as soon as you enter the new Oval app. Our interface is new, and, above all, you will find three new sections in the homepage - the savings’ section (Save), the investments’ section (Invest) and the payments’ section (Pay). The new Oval experience revolves around these 3 pillars.
Don’t get us wrong, though, these changes were not just motivated by an aesthetic revision or a new User Experience, however essential both of these are. With this evolution, Oval ceases to be just a savings app and effectively becomes an ecosystem of tools aimed at creating good financial habits and allowing you to achieve your goals.
Savings Goals and Smart Rules
So, our new features then! The first - strongly requested by our Community- is savings Goals. Whether it’s buying a car, putting aside a holiday budget, or finally buying a new smartphone, Oval 7 allows you to define one or more savings objectives, and manage and increase them independently from the others, so that every day you can get closer to the outcome you have set up.
Now, you may ask yourself how you increase your Goals or investments, preferably in a recurring and automatic way. Easy - you create Smart Rules, the new savings’ engine which is undoubtedly Oval 7’s most important new feature.
Let me try to explain this change as easily as possible - since the beginning of Oval, you have been able to set savings rules (Steps) to feed into your virtual money box in a recurring and automatic way. Whether it was a fixed weekly amount, a percentage of your salary, a round up of a card transaction, an amount linked to an expense category or something else, at Oval we have always believed that to properly manage your finances you have to set rules and follow them.
Who really likes to respect rules, though? The savings’ manual management simply does not work. You set some stakes, after a while you forget about them, and end up giving up on your resolutions. You know what happens every year in January? Yeah, precisely that. This is why we have introduced automatic and recurring mechanisms that do all the work for you.
Compared to the Steps you have used until now, the Smart Rules give you much greater flexibility. In Oval 7, you can create completely independent rules for each investment product and individual savings objective (e.g. holidays, buying a car or a motorcycle).
Just to give you a few examples, with our Smart Rules you can start planning your next trip by setting aside 10€ a week into your "Holiday" Goal; or create a "Master’s Degree" Goal and set aside 5€ every 5,000 steps you take and the round-ups from your Pay card transactions, to sign up for that course that you keep putting off. You can also create Smart Rules to help you invest a little at a time in the investment products distributed by Oval.
Take the Smart Rules, combine a pinch of automation and there you go! Here is the new magic formula to manage your finances, completely based on your own habits.
As a matter of fact, financial management is made of all those small daily habits that allow you to build a solid routine, just like brushing your teeth or going to the gym. They become part of us and we follow them almost unconsciously, to then realise later that they have positively influenced our life.
Now is the time to stop procrastinating, to choose the rules that are right for you, so you can open your Oval app in a few months and smile at your growing Goals and investments. Oval 7 is here - set the rules for your future!