Cheddar, a pioneering FinTech company known for its innovative rewards applications, has relaunched its product aimed at alleviating the financial pressures of the cost of living crisis for consumers in the UK.
The company’s re-launched app, Cheddar 2.0, is designed as the ultimate financial companion, offering instant cashback and unparalleled savings from some of the UK’s leading brands.
The new product emerges in response to the escalating cost of living, prompting Cheddar to evolve its app into a more essential tool for UK residents. This FinTech innovator specializes in creating user-friendly financial solutions that integrate seamlessly with consumers’ lives, making savings accessible and effortless.
Cheddar distinguishes itself by leveraging bank-powered technology to offer an app that not only provides immediate cashback directly into users’ bank accounts but also personalises savings recommendations based on individual spending patterns. This approach ensures that users can make their money stretch further without navigating clunky interfaces or enduring frustrating wait times.
The upgraded app, available nationwide, connects users’ bank accounts and credit cards, allowing access to tailored saving solutions. Cheddar 2.0 introduces enhanced cashback rates from over 150 retail partners, including giants like Amazon, ASDA, and Costa. This ensures consumers can save significantly on essentials such as groceries and fuel, effectively never paying full price again.
Beyond cashback, Cheddar 2.0 innovates with features for bill splitting across any bank and a cash bonus referral system, making it easier than ever for users to manage finances and share the benefits of Cheddar with others.
Cheddar’s approach to loyalty and rewards, underpinned by Open Banking data and artificial intelligence, offers brands a strategic platform to reach valuable consumers directly. This not only drives brand loyalty and revenue but also positions Cheddar as a leader in the FinTech space for consumer savings and financial management tools.
Luke Ladyman, COO and Co-Founder at Cheddar, said, “With the cost of living crisis eroding consumer purchasing power, people need a financial companion to help them spend smarter. Our new app harnesses the benefits of open banking infrastructure and the latest artificial intelligence. Consumers are empowered to use their spending data to strengthen their finances by accessing instant savings almost every time they shop. We look forward to accelerating our reach across the UK as we extend our partner base to become the UK’s number one and most innovative personal finance app.”
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