Bank of Queensland has contracted with fintech Frollo to develop money management and financial wellbeing features for its revamped Virgin Money, which is scheduled to be relaunched in an all-new digital format later this year.

Frollo has been operating since 2017, offering consumers a budgeting and personal financial management app.

It is a Consumer Date Right accredited data recipient, which means it can offer services using CDR. Consumers have the right to direct their bank to share their data with an accredited data recipient.

It also has B2B side to its business, offering financial institutions a developer portal that allows them to create their own apps.

Virgin Money said in a statement that customers will get more detailed transaction information and insights into their spending, as well as the ability to track bills, create a budget, and set personal goals.