ApTap helps Lloyds Bank mortgage customers save money

Ellie Duncan
14 Mar 2024

UK-based fintech ApTap has teamed up with Lloyds Bank and Halifax to make it easier for the banks’ mortgage customers to manage and save money on their household bills.

ApTap’s bill management tool will be available through Lloyds Bank’s ‘Home Wise’ and Halifax’s ‘HelloHome’, both of which are home hubs that are already available to the banks’ mortgage customers via mobile banking.

Through the partnership, customers of both banks will be given information on the savings they could make by switching broadband provider, energy supplier or mobile phone contract, and request to make those switches.

The partnership comes after ApTap completed Lloyds Banking Group’s ‘Launch’ programme last year, which is a five-month collaborative innovation programme, providing a structured approach to testing with fintechs.

Through the programme, fintechs like ApTap can work with experts to refine their ideas and to test proofs of concept.

Carolyne Gregory, head of product management, homes at Lloyds Banking Group, said: “Staying on top of regular household bills can lead to savings of hundreds of pounds a year, but we know it can be difficult to find time to go through paperwork and check with every supplier.

“The collaboration with ApTap makes managing regular bills much easier, as Lloyds Bank and Halifax mortgage customers can now save and switch through their existing home hub within their mobile banking.”

Last year, ApTap’s broadband switching tool alone saved the average customer more than £217 annually.

Will Billingsley, co-founder and chief executive officer of ApTap, said: “Throughout the Launch programme, we have seen the bank’s ambition to serve customers in innovative ways first hand.

“Having worked closely with a number of teams across the group to get our tools into the app, we’re excited to land in the home ecosystem, which we believe lends real context to our bill management tools.”

He added: “The mutual focus on helping customers make the right decision for their specific situation has fuelled this partnership, and we’re excited to see what comes next as our relationship grows.”

Within Home Wise and HelloHome, Lloyds Bank and Halifax customers can view their estimated property value and calculate the impact of overpayments on their mortgage.

Lloyds Banking Group recently joined the Open Property Data Association, which aims to implement Open Data standards in the homebuying and selling process.