While saving an average of £150 by using an app might sound like wishful thinking, ApTap enables its users to do just that. Simply. In 5 minutes.
Nadal Sarkytbayev (CEO, MSc Theoretical Physics 2016), Will Billingsley (CFO, BSc Biology 2017) and Isa Ibrahim (CTO, BSc Material Science and Engineering 2017) met on the football field playing for the 1st and 2nd team of Imperial and have been friends ever since. Their idea originated at a ‘Founders of the Future’ event with Santander, after which they brainstormed the idea and 16 hours later wrote their first business plan.
Their vision was to bring simplicity and control to managing bills and subscriptions with just a tap. They wanted to build the world’s first Appstore for Subscriptions or an iTunes for Services, so they created ApTap – a software plugin which allows end users to organise their recurring payments and do an automatic comparison of their bills to deals on the market. The user is then able to cancel, switch or sign up to services within the app with just a few taps!
Apart from many successes that the company has (quite deservedly!) enjoyed in the past few years, the most recent highlight was even the more impressive – TSB announced its partnership with fintech ApTap to introduce a new bill management feature. As TSB emphasises “…this enables customers to organise bills quickly and efficiently, and crucially, ApTap also makes it easy to compare and switch to other energy or broadband deals – opening the door to big savings for customers.”
TSB’s research found that 40% of Brits would be more likely to switch energy providers if they knew that it would take less than 10 minutes to make the change. Using the new ApTap feature takes on average around five minutes to make the switch, dispelling the common myth that it’s tricky and time consuming to change suppliers.
“Aptap allows for easy consolidation of bills and subscriptions, giving customers an overview of how much they spend each month, with a useful 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.”
Apart from the invaluable service that the app offers to customers, ApTap’s website has created a blog where the users can find even more expert advice on managing personal finances.