CYBG launches energy switching service within mobile app

CYBG launches energy switching service within mobile app

CYBG has launched an energy switching service within its B Smart banking app through a partnership with financial comparison site GoCompare.

Available to customers of CYBG's digital banking offshoot B, the app provides a means to search the market for cheaper alternative suppliers and pre-populated switching forms using information already held within the app.

CYBG says three-quarters of B customers with energy direct debits are currently with one of the more expensive ‘big six’ energy suppliers. Customer who choose to switch are additionally rewarded with an incentive commission of £40 for dual-fuel and £20 for single-fuel paid directly into their accounts

Sam Bedford, head of CYBG’s accelerator says: “This partnership is a great example of our ability to work at pace to develop new digital experiences for customers which go beyond banking. Having been early adopters of Open Banking, our new partnership with GoCompare has launched the first energy comparison and switching service for bank customers in the UK. With just a few clicks, customers have the potential to save hundreds of pounds on average by switching energy provider without leaving their B mobile app.”

Comments: (1)

A Finextra member
A Finextra member 15 July, 2019, 15:40Be the first to give this comment the thumbs up 0 likes

Nice idea but a claim of "hundreds of pounds on average" seems dubious.  The average needs to be £200 and over. Is that really the case?