Money Dashboard is to shut down its budgeting apps Neon and Classic.
The Edinburgh FinTech, owned by ClearScore, has emailed the half a million users of the apps to inform them that “unfortunately we could not find a sustainable business model for the apps and are therefore unable to continue supporting the services”.
They have until the end of the month to export their data from the web version of the apps.
Money Dashboard uses open banking to securely connect a user’s bank accounts and credit cards, allowing them to see them in one place.
The free-to-use apps also split spending into categories – such as savings, bills, food and drink, and shopping – with budgeting features, goals and overspending notifications.
“Existing Money Dashboard accounts will be closed and deleted, and any bank connections will be disconnected,” the firm stated, while offering all users a free trial of Snoop Plus, the premium version of rival budgeting app Snoop.
The company said it will now focus fully on its B2B open banking services.