About Us

It all started when Guang, our founder, got his debit card details stolen.

A few years later, his wife was also subject to financial fraud, but this time at a much larger scale, over £20k of her life savings having worked as a NHS nurse. And the bank couldn’t even assure them that they would ever get it back. Although they got their money back eventually, the experience was a little too scary for comfort.

Having experienced financial fraud twice, Guang would regularly monitor his bank transactions. But even as a Chartered Accountant with the help of spreadsheets and money management apps, it was a lot of work. He faced some practical challenges:

• sorting receipts to the relevant bank cards,

• remembering what he bought,

• whether it was personal or for business?

• if for business, had he claimed the expenses? and

• what about those online transactions where you don’t have paper receipts? Paypal for example…

It was getting tiresome and it was no longer just about staying on top of transactions, rather how to manage the resulting headache. 

He needed a better solution.

The solution: iSpent19

The more Guang got involved with his bank transactions, the more he realised that financial related headaches are not just about the risk of being defrauded. It is also about some wider concerns many bank users have, due to the lack of a sense of knowing that they are on top of transactions they need to deal with.

An ideal solution is one that simply consolidates all relevant transactions in one place that is ultimately interactive, flexible and personal. The ability to be user centric, viatransaction personalisation!

Having exchanged this idea with some of his friends, Guang quickly identified (you guessed it) the original 19 scenarios where having an App would significantly simplify his money management experience. He knew he needed to build an App.

In 2018, to increase retail banking competition, the UK government legislated that banks make their customers’ financial data shareable, upon customers’ request & consent, with licensed service providers.

This heralded the arrival of Open Banking in the UK. (More detail in FAQ’s.) It became the perfect opportunity to carry Guang’s App-building dream to reality. In August 2019, iSpent19 was incorporated.

Fast forward one year on, Guang had successfully secured the company’s position as a licensed Open Banking third party service provider, thanks to his experience as Anti-Money-Laundering Reporting Officer and Data Protection Officer. He also assembled a team of experts who share his vision and values to help develop and launch the App.

Our purpose

“Compared to the 15th century, we now consume as much data in a single day as an average person from the 1400s would have absorbed in an entire lifetime.”

“The average person consumes three times as much information as we did in the 1960s”

These are words from Jim Kwik’s new book Limitless, a New York Times best seller, referring to the problem of Digital Deluge, i.e. information overload.

Faced with this problem, many of us feel like we’re constantly playing catch up on matters such as financial obligations in the midst of daily information overload and slowly losing control. That’s because when money gives you problems, it quickly trickles into the rest of your life.

Whilst Jim offers his students practical tools to train their brains to tackle problems like information overload, we offer you a practical App that helps manage your bank transactions that you may not need to remember yet important to keep track of somehow.

At iSpent19, our purpose is to make bank transactions simple to manage by removing question marks and the associated stress. This is so you have the mental freedom to focus on your life.

We value Visibility, Control and Convenience in your transaction management experience, because they give you the Comfort and Confidence of staying on top of your financial affairs.


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About Us

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