Sparly is the fintech – financial technology – app that will make your personal finances “financially fit”. Recently, the service was awarded second prize in the Södertörn Social Cup. The service is now being developed to take the step from the student world to the general public.

Jazgul Ismailova

– It means a lot to be recognised by the Södertörn Social Cup, which focuses on ideas that aim to tackle major social problems. It is a validation of our concept that gives us energy to continue to develop, says Jazgul Ismailova, founder of fintech app Sparly and Master’s student in sustainable business at Södertörn University.

Sparly is an app that links to your bank account to create for you an individualised budget with the help of AI and machine learning. The goal is to provide you with increased knowledge about your expenses and offer you a way to live more sustainably, says Jazgul Ismailova.

– We want to help young adults build sustainable personal finances through smarter and more climate-adapted consumption. Today we see an increase in indebtedness among young people who often have limited knowledge about their personal finances, says Jazgul Ismailova.

She got the idea when she herself was looking for ways to take better control of her own finances. She previously worked at Nordea and had come into contact with new technologies such as open banking.

– We want to challenge today’s business models in the financial services sector that are based on people consuming more, and preferably on credit. It is not sustainable in the long run – instead we need zero tolerance for consumer loans. By contrast, our business model will be transparent and based on a subscription fee, says Jazgul Ismailova.
Initially, Sparly’s solution is based on services from the Swedish fintech company Tink.

– Tink has been significant in increasing knowledge and credibility for new financial services. Now it’s time for the next generation of services with a focus on a better experience and problem solving for customers.

Södertörn Social Cup is an ideas contest for social innovation run by by Venture Cup, Drivhuset, Södertörn University, NyföretagarCentrum Botkyrka – Huddinge, KI Innovation, Subtopia, Huddinge municipality and Botkyrka municipality.
The contest is aimed at early startups in social innovation with a focus on the UN’s 17 Goals for Sustainable Development, and is open to anyone with a connection to Södertörn.