Level Money, a popular money management app that is owned by Capital One Financial, is being shut down Sept. 1.
A blog post from Level Money's managers, which once billed their product as a GPS for consumers' finances, basically said times had changed.
“When we
"While we’ve had successes over the years, we are encouraged by how much the financial industry has changed. There are now a plethora of tools available to help you manage your money.”
Several popular apps have closed down in recent weeks. Prosper Marketplace is
The marketplace lender Social Finance also decided to discontinue accounts
The blog post said the people behind Level Money will continue their efforts to promote more ways for consumers to save and manage their money. It also said the login credentials and associated transaction history for all accounts held outside of Capital One will be purged.
Digit, Qapital and Clarity Money are three examples of stand-alone apps designed to help people manage their money.