TANDEM OPENS COMMUNITY BETA TESTING FOR AUTOSAVINGS

Tandem was started with the help of 11,000 co-founders who shaped the bank they are today. Now, with over 325,000 customers, Tandem has returned to their customers to help test their forthcoming Autosavings proposition

Autosavings will give every app user an interest-bearing account with Tandem and allow them to enable a set of smart savings rules to automatically find money that can be saved

Tandem will leverage each customer’s transactional data to suggest appropriate amounts for customers to save in small, regular deposits. The idea is to make every savings plan personal, safe, and stress free

Ricky Knox, Co-Founder and CEO of Tandem Bank, says “We want Autosavings to change the way people think about saving – rather than thinking of spending as the enemy of saving, you should be saving little and often throughout the month. Saving and Spending in Tandem!”

Today, Tandem has invited their existing app users to join their Autosavings Beta testing community and help test their new Autosavings proposition. Users will be able to feedback suggestions for improvement, report bugs and discuss their savings habits to help build a product that is relevant for them.

Tandem are proud to be supported by a unique community, the co-founders. This 11,000-strong group have been with Tandem from the start and have ensured that solving real people’s real problems at the heart of everything Tandem do. At the beginning the co-founders helped shape a new kind of bank over pizza in Tandem’s offices. Now with a growing suite of banking products the Tandem community is much bigger, but the principle of customers shaping products has stayed the same.

Ricky Knox, Tandem CEO, says, “Without our co-founders Tandem wouldn’t be what it is today. They have helped shape the product, the logo, and even named us back when we were going by “the Good Bank”. We want our community to continue to shape our banking products with Beta programmes like this one – it’s how we know we’re on the right track.”

Autosavings is an entirely new way to save with Tandem. Following the full launch later this year, every Tandem app user will be able to set up an account with smart savings rules. This new service will make it easy to set aside affordable amounts and earn interest, taking positive steps towards financial freedom, whether that means escaping to the Maldives, or moving out of your flatshare to finally escape that flatmate you can’t stand.

These rules include an option to round up money spent, with the additional money being deposited into your Tandem account. Other rules harness the Tandem Banking App’s data aggregation capability to calculate small increments to be automatically saved. This savings offering is a flexible and pain-free way to stash your cash and can be withdrawn at any time.

Matt Ford, Product Director at Tandem, adds, “When we talk to our customers almost everyone says they want to save more, but struggle getting into the right habits. They often just end up feeling guilty about the whole process of saving. We’re aiming to make it easy for anyone to make a positive change in their financial life, and this Beta test will help us get there.”

If you would like to join the Autosavings beta testing group, please sign up here (https://mailchi.mp/tandem.co.uk/autosavings)