ABN Amro is extending its relationship with subscriptions management outfit Subaio to provide greiving family members with an overview of a deceased person's recurring payments, including subscriptions, loans and insurance.
The new 'death tech' service aims to take the stress out of sorting out the financial affairs of a deceased relative.
In the past, ABN Amro's customer support team needed to go through financial transactions manually to find each recurring payment which could then be canceled or moved by the deceased customers' surviving relatives. The task was time-consuming as the typical Dutch person has more than 11 recurring payments on average.
ABN Amro was the first bank in the Netherlands to go live with Subaio's white-labelled subscriptions management app in 2020.
"Since the start of our partnership, we significantly benefited from Subaio's recurring payment expertise, says Gijs van Wijk, lead product owner innovation at ABN Amro. "We are looking forward to launching new features with Subaio in the future."
The Danish fintech, which picked up a €4 million investment from former Mastercard Europe president Javier Perez in February, currently counts eight banks among its customer roster.