TSB is partnering with price comparison FinTech ApTap to introduce a new bill management feature for banking customers.

The bank trialled ApTap’s tool with more than 10,000 customers, who were able to organise bills for energy, utilities and broadband as well as compare prices and switch to other deals. Customers in the trial saved on average £150 a year.

Research from TSB also found that a third of people (34 per cent) have not changed energy provider in the last five years, although two in five (40 per cent) would do so if it could be done quickly.

ApTap’s feature takes on average around five minutes to make the switch from one provider to another.

The technology also allows for easy consolidation of bills and subscriptions, giving customers an overview of how much they spend each month, with a service which shows which bills have been paid and which bills are yet to go out.

Pella Frost, director of everyday banking at TSB, commented: “Our partnership with ApTap gives our customers confidence to make informed choices about how best to spend their money. In just a few clicks they can compare and save on their regular monthly bills, helping to make their money go further.”

TSB’s research also found that almost two-thirds (64 per cent) of people said that finding ways to cut spending on bills would help them to save money in the long run.

Will Billingsley, co-founder and chief commercial officer at ApTap, said: “We are excited by the customer first focus at TSB and are looking forward to helping customers save, improve their carbon footprint and generally be more confident with their money. This is a big step forward, as we build a next generation bill management experience together.”

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