TSB Bank is launching a pilot for a bill management and utility switching service in partnership with white-label fintech provider ApTap.
The service will be aimed at helping customers manage their finances by seeing all their bills in one place and making it easier for them to save money by switching energy or broadband providers "with a few taps".
TSB's partnership with ApTap goes back to an engagement at the bank's fintech accelerator programme, TSB Labs, and has now borne fruit in the proof of concept for the bill management pilot
The pilot is will aim to assist TSB employees manage their finances before the service is rolled out to customers.
Will Billingsley, ApTap's co-founder and COO, believes the ongoing challenging economic conditions will accentuate this service's importance as a money-saving utility, with millions of people facing unemployment and the consequent financial difficulties that entails.
Jason Wilkinson-Brown, TSB's head of partnerships, hails the pilot this as an example of Open Banking delivering interesting and innovative products and services.
"Giving customers the power to manage their recurring payments and save on bills will help them to take control of their finances," he says.
“ApTap are one of the first graduates of our TSB Labs programme so it’s great that we’ve been able to launch this proof of concept with them."