Banco Sabadell is to roll out a subscription management service to mobile users following a three-month collaboration with Swedish startup Minna Technologies.
Piloted with 5500 customers, the service provides a complete picture of all subscriptions and bills paid by direct debit and/or by debit card at Banco Sabadell. Users get a full view of all their subscriptions and can receive alerts of changes in pricing, so they can cancel unwanted subscriptions with just one click, as well as compare prices and switch to a different provider if they find a better offer.
Denis Nakagaki, director of digital strategy, investments and partnerships at Banco Sabadell's digital business hub InnoCells, says: "We launched this service to respond to the desire of our clients to have more control and flexibility in the way they manage their money. This is a clear example of the collaborations with fintech that we intend to promote on a large scale within Banco Sabadell”.
He says futures developments on the horizon include the addition of Open Banking capabilities to give users full control over all of their subscriptions and bills, regardless of the bank in which they have set up payments.