Wyzr Fintech Limited

Wyzr

Frequently Asked Questions

Wyzr is an app based platform. We are initially rolling it out as a web based platform. It will be available as a mobile app soon.

 Yes, Wyzr is free. Our purpose is to help you make wiser choices regarding your money and our planet with minimum barrier and effort.

Wyzr's Artificial Intelligent (AI) engine calculates the maximum you can save from your income by looking at how you have been spending. Then it automatically transfers that money to save from your payment account (the bank account that you connect to Wyzr) into your Wyzr Sweep account. That way the stress of saving money is taken care of as soon as you have earned.

 

The AI engine regularly monitors your connected accounts. So, if you are spending less than expected, then automatically more money will be put away to save. Similarly, if you spend more than expected, then an appropriate amount will automatically transfer back into your original payment account to make sure there is sufficient amount to spend at all times.

You will have full control over how your money is organised and saved. At any point in time, you can easily override the automation and make changes as you please.

 

The automation understands your financial circumstances and tries to mimic your real life decisions as closely as possible to increase your wealth. It will continue to learn from your behaviour and automate your decision making so that you don't have to make much effort in managing your money.

Wyzr only sees the information that you give permission for. You can revoke your permission at any time.

Yes, it is safe to connect you bank accounts to Wyzr.

 

Wyzr follows the Open Banking standards as per the UK financial regulations. Wyzr uses industry standard data security protocols to protect your data. Additionally, Wyzr will have read only access to you bank data based on the permission you provide. This means Wyzr cannot make any changes to your bank account.

Yes, you can easily connect multiple bank accounts to Wyzr. The more accounts you link to Wyzr, the better Wyzr analyses your financial situation to give you a clearer view of your finances.

 

Wyzr supports most of the commonly used current, savings and credit card accounts in the UK. In case, you can't find the account you want to add please let us know at [email protected]

Wyzr will process your data to give back useful information to you. It doesn't share your data with any external party.

Wyzr's AI will analyse your data to make it easy for you to understand your financial situation.

Yes, you can easily delete all your data by logging in to Wyzr and deleting your account from the profile section. After this Wyzr no longer has access to your data.

Wyzr looks up your spending transactions from the bank accounts you connect to Wyzr. Then it calculates the carbon footprint corresponding to each spending transaction. Along side the money you spent, you can also see the  carbon footprint of those transactions.

Carbon footprint of a spending transaction is calculated as:

expenditure (£) x carbon intensity (Kg CO2 equivalent / £)

For example, if you spend £30 in a clothing store, then we calculate the carbon intensity of the purchase from the clothing store based on a UK wide average basket of clothing items and accessories bought.

Carbon intensities for a wide range of goods and services are obtained from the UK government data sources and research institutions. Exceptions to this calculation model are transactions such as flight ticket purchase where we will take more inputs from you