Dozens confirms deal with Open Banking platform Bud

UK challenger banking app Dozens has struck a deal with Open Banking platform to reduce friction in the sign up process for its services.

Dozens offers users a portfolio of budgeting and analytics tools to help them save and invest more efficiently.

Simply put, consumers just need to register, complete a basic KYC and connect one or more of their existing accounts with other financial services firms through Bud’s Open Banking platform.

The partnership will also impact existing customers and the way in which they engage with their finances. Customers will be able to connect one or more of their accounts to offer deeper insight on a persons finances developed in one place.

Aritra Chakravarty, CEO of Project Imagine and Dozens, says: “Dozens’ mission is to help its customers manage, save and grow their money. The savings tools and investments products, already live in the app, provide a lot of financial choice; but often the hardest step for users is to get started in the first place.

“Bud’s Open Banking platform provides us with the perfect solution to this by allowing Dozens’ customers to get a complete view of their present financial situation across the different institutions that they already have accounts with.”

The announcement comes as Dozens announces it is to migrate over to ClearBank. Customers will now be able to make direct debits, standing orders and instant transfers for the first time in its history.