8.6 C
New York
Monday, August 3, 2020
Home Challanger banks Revolut launches in-app price comparison service

Revolut launches in-app price comparison service

Revolut is now working with Decision Tech, a price-comparison technology company.

With a feature reachable in the app as Essentials, the service allows Revolut’s UK customers to switch and save on their bills for gas, electricity, broadband, mobile, and TV. Last month Revolut launched a new “super app”, in order to provide a wider range of products.

Revolut has had a busy week indeed as it raised $80m in new funding and extended Series D round to $580m. Then Allica Bank announced the appointment of Richard Davies as its new chief executive officer. Davies was until then working for Revolut.

Read also: Revolut’s Richard Davies moves to Allica Bank as the new CEO

Decision Tech is Moneysupermarket’s white-label technology business. Revolut said that it is one of “only a handful of U.K. FinTechs offering a price-comparison service directly to customers.” The release said Revolut customers will have access to a range of suppliers and exclusive deals through its app.

Michael Phillips, CEO of Decision Tech, said: “This is a big milestone in Decision Tech’s success in building out MoneySuperMarket’s B2B capability.”

“Thanks to the tie-up between Revolut’s open banking data and Decision Tech’s switching platform, customers can switch their energy, broadband or TV and mobile phone providers without having to leave the app.”

Revolut demonstrates the feature with “Standard Variable” energy tariffs for their electricity and gas. These cost up to £300 more than other more economical offerings. Users may switch to more affordable services in just a few clicks, says the bank.

Marsel Nikaj, head, savings, Revolut, says: “Our mission has always been to provide our customers with greater control over their finances, help them save money and improve their financial health, so we’re delighted to partner with Decision Tech and MoneySuperMarket on this innovative service.”

Avatar
Jan Cerny
Jan is an innovation enthusiast and Fintech news reporter. He specializes in news distribution, social media, and content analysis.

Recent posts

Curve is set to raise £100m in the upcoming Series C

Curve has managed to overcome the Wirecard struggle and now is looking to raise fresh capital, according to Sifted.

The Everly Summary (weekly TOP5 news)

Welcome to Everly.eu’s weekly summary. Let’s see the most important news we have covered during the last week in a TOP 5 list!

TransferWise hits $5bn valuation

TransferWise early investors sold some of their stakes in a $319 million secondary deal. With that, the value of the company was estimated at $5bn.

Monzo bank future in doubt as losses double

Monzo bank’s losses jumped from £47.2m to £113.8m amid a hiring spree, marketing and US expansion.