The pairing of Open Banking with smart data insights provides companies with a tool kit for solving business problems.
Dozen invested in building an UX that helps their customers to save and invest more effectively, and through Bud's Open Banking platform they're turning that investment into an acquisition channel by opening up the Dozens experience to non-Dozens customers.
All users need to do is register, complete a basic KYC and connect one or more of their existing accounts (with other high street banks and investment managers) through Bud’s open banking platform. From there, they’ll be able to use Dozens budgeting and analytics tools before having to download the Dozens app and complete a full KYC. If a prospective customer then decides that they like what Dozens has to offer, the onboarding process becomes frictionless, as the KYC flow will only ask for details that are additional to those already given in the initial registration.
Existing Dozens customers will also benefit from the implementation - they'll be able to connect accounts held with other providers to their Dozens app so that when the app is working to help them save and invest more, it's working on a full picture of their financial situation.
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