Lloyds Bank is to make managing household bills easier for mortgage customers through a partnership with ApTap, a fintech startup graduate of the bank's 'Launch' innovation programme.
ApTap’s bill management tool, which makes it easier for people to switch and save on utilities and home services, will now be available through Home Wise (Lloyds Bank) and HelloHome (Halifax) - the home hubs already available to the banks’ mortgage customers through their mobile banking.
The app provides customers with the ability to get information on savings that could be made by switching broadband provider, energy supplier, or mobile phone contract and the means to implement the switch.
Carolyne Gregory, head of product management (Homes), Lloyds Banking Group says: “Staying on top of regular household bills can lead to savings of hundreds of pounds a year, but we know it can be difficult to find time to go through paperwork and check with every supplier. The collaboration with ApTap makes managing regular bills much easier, as Lloyds Bank and Halifax mortgage customers can now save and switch through their existing home hub within their mobile banking.”
Last year, ApTap completed ‘Lloyds Banking Group Launch’, a five-month collaborative innovation programme that providing a structured test and learn approach to partnering with fintechs. It offers fintechs the opportunity to solve key strategic challenges by working with business subject matter experts to refine ideas and test via a Proof of Concept.
Will Billingsley, co-founder and CEO at ApTap, says: “Throughout the Launch programme, we have seen the bank’s ambition to serve customers in innovative ways first hand. Having worked closely with a number of teams across the group to get our tools into the app, we’re excited to land in the home ecosystem, which we believe lends real context to our bill management tools."