The movement is meant to provide users personalised insights on their spending across all of their bank accounts in one place, as well as warning people about unexpected fees and unusual activity on their accounts.
Tandem plans to harness the power of artificial intelligence (AI) for the benefit of their customers as the new feature is described as anticipating customer needs.
Personetics has previously published research that indicates nearly half (45%) of traditional UK bank customers could switch their current account to a new bank and that the key driver when it came choosing a new firm was that they felt that their finances were better understood, better guided and better managed by new providers rather than traditional banks.
Tandem previously ran a crowdfunding round on Seedrs that raised GBP 2.3 million. These investors have been labeled “co-founders” of the bank. Tandem claims is targeting customer experience at the heart of their services with personalised insights and advice to differentiate from more traditional banks.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now