Salt Edge partners with Italian expense management fintech Switcho
Switcho, an Italian digital fintech platform that brings innovations in expense management, has upgraded its services by teaming up with Salt Edge, pioneer in open banking, thus becoming the first company in Italy able to provide insights on expenses and at the same time offer the chance to take actions about it, straight from the app, in order to save on those expenses.
The liberty of providing various utility services, like energy, gas, telephone, home and mobile internet, has encouraged intensive price competitiveness. While this is definitely an advantage to the final user, one must be aware of all suppliers’ offerings and how they relate to their specific needs. Most of the time, the research of these suppliers, gathering information on their offers and prices, comparing those prices between them, and then reporting it all to the current expenses is too big of a fuss. Usually, people tend to abandon it halfway and stick to the current plan. But that’s not all. Besides finding the right provider, switching from the current one to a more suitable provider involves bureaucracy and several weeks for the procedure to be finalised.
Switcho has found a way to solve that and ease up Italian consumers’ lives. It aims to become a broad service-offering platform that helps users manage their recurring expenses in smarter ways. For instance, with Salt Edge’s Account Information, Switcho accesses bank transactional data and information on the payees for each bill from 500+ Italian banks. Adding that information to the suppliers on the market, the company analyses them and offers tailored deals to its users. This way, it is directly helping save money and enjoy reliable services. Moreover, users get a unified view of all their expenses, since the API automatically retrieves and categorises bank accounts’ information, making all expenses transparent and easy to scroll through.