- Partnership Announcement: Lloyds Banking Group collaborates with UK fintech ApTap to offer bill management tools to Halifax and Lloyds Bank mortgage customers.
- Tool Integration: The bill management tool will be accessible through the Home Wise and HelloHome mortgage hubs on the Lloyds Bank and Halifax mobile banking apps.
- Features: The tool provides insights into the costs of broadband, energy, and mobile phone contracts, allowing users to request switching to cheaper plans if available.
- ApTap’s Background: London-based fintech ApTap, established in 2018, previously extended its billing technology to TSB Bank to aid customers in managing subscriptions, resulting in average savings of £150 per year.
- Relationship with Lloyds: ApTap is an alumni of Lloyds Banking Group’s Launch innovation programme, which serves as a testing ground for specific value propositions, completed in the previous year.
- Expected Benefits: Carolyne Gregory, head of product management (homes) at Lloyds Banking Group, anticipates that managing household bills can lead to significant annual savings for users and aims to simplify this process through the partnership.
- Mutual Focus: Will Billingsley, co-founder and CEO of ApTap, highlights the partnership’s focus on assisting customers in making informed decisions tailored to their specific situations.
