European open banking platform Tink, and subscription technology platform Youtility, have partnered to provide UK retail banks with embedded subscription and money management tools.
Tink said the combination of Tink’s Money Manager product and Youtility’s subscription technology enables banks to deliver frictionless and hyper-personalised customer journeys.
Through real-time categorised transaction data, people can set budgeting goals, and achieve savings on household contracts such as energy, broadband, TV, landline and mobile – while also reducing their carbon footprint.
Through this partnership, Tink said, banks can help users take these crucial savings actions and make more sustainable choices on core household costs without leaving their banking app.
Built for banks and FinTechs, Youtility’s embedded web and API-based subscription management tools aim to make managing household contracts simple, accessible and informative, empowering consumers to save money, stay in control and make informed decisions that reduce their carbon impact.
Tasha Chouhan, UK & IE Banking lead at Tink, said, “Our Money Manager product is designed to help banks deliver tools and personalised insights that help people improve their finances. Youtility’s suite of products augment these insights with seamless actions that drive meaningful savings.
“Both the climate crisis and rising cost-of-living will be defining issues for consumers in 2022 and beyond. This is why we are building an ecosystem of partnerships, including Youtility and partners like Cogo, to help banks provide the clarity that’s needed for people to make meaningful decisions on how they manage their finances, and reduce their climate footprint.”
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