Giffgaff, the mobile network run by Telefonica, is to use Open Banking rules to provide a personal financial management service to its users in the UK.
The free-to-use service, dubbed giffgaff gameplan, aims to offer actionable insights on how to cut down daily expenses and save towards defined goals.
Popular among the millennial segment, giffgaff says the gameplan app and Website will analyse spending habits and offer suggestions to help users to grow their savings.
Set to launch this summer, the service will also come with a built in comparison tool providing an unbiased overview of alternative credit card options, energy providers, car insurance and loans.
Steve James, spokesman for giffgaff gameplan, says “We’ve been working closely with our community to build gameplan into a service that makes finances work for people rather than against them. People’s account statements are so complicated that one in five people can’t get the information they need to know from them - so we’re hoping gameplan will give people a chance to reclaim control over their money."