The app - Claro Money - links to a team of human experts led by Chartered Financial Planner Rachel Harte. 

The company says the app, which it claims is a UK first, provides users with “education, tools and human support” needed to develop a “smart money mindset.”

So far the firm has seen 24,000 sign ups to its pre-launch waiting list.

The app is free to download and enables users to keep track of their finances and also book a one-to-one call with a financial coach, create a financial plan and choose saving and investing products suited to them. 

Claro says the app is designed to reach the 94% of Britons who cannot afford financial advice.

It believes financial coaching is an affordable and effective alternative to financial advice. 

Inside the Claro app, users can book a one-to-one financial coaching session, view their spending across multiple accounts, create goals, and choose saving and investing products based on their timeline, risk levels and values. Claro also provides ESG (Environmental, Social and Governance) data within the app.

The Claro CEO is Rob Brockington who has worked in the financial sector for over 10 years, specialising in global equities and fintech businesses. He previously worked in algorithmic trading.

Supporting him and leading Claro’s team of financial coaches is head of Financial Planning, Rachel Harte. She has over a decade’s worth of experience as a Chartered Financial Planner. 

Over the past year, Claro has expanded its team of experts to 31 employees drawn from the banking and tech industries. 

Mr Brockington said: “Behind Claro is a team of financial professionals who, despite our different professional backgrounds, all identified the importance of democratising financial knowledge and opportunity. This belief in financial accessibility is at the core of Claro’s ethos and what has driven the development of the app. 

“We have worked to create a platform that brings value to users' lives through helping to set clear and manageable financial goals, which does not discriminate against users based on their age, income or financial history. The initial response to the app has been fantastic and we’re looking forward to sharing our financial coaching and knowledge more widely.”