Frans Woelders, Chief Digital Officer for NatWest

Natwest is all set to trial its personal finance application called Mimo, in the first week of this month.

The supplier states that the app has been designed to assist customers in saving time, money by providing them with reminders for financial tasks, insights into day to day spending as well as insurance, subscription and utilities. It uses contemporary technologies such as Open Banking APIs, AI and data analytics to help consumers with their budget and attempts to bring them customized market deals.

Frans Woelders, Chief Digital Officer for NatWest said: “We know that customers want to keep better track of their money, but find it hard to find the time or the motivation to manage the admin around that, so we’ve developed Mimo to make it easy, simple, and as straightforward as possible to keep on top of their finances.”

“Our aim for Mimo is that it will help customers have a better overview of their financial life and help them achieve their financial goals from the ease of their own phone. It’s important that the app reflects customers’ needs to be as useful as possible. We’ve already trialled Mimo with 50 colleagues, so I hope that by extending the trial our customers will tell us what they think of it, and where we can improve it,” Mimo Lead, Calvin O’Brien commented.

Recently, Natwest announced that it is ready to roll out its biometric card technology pilot in collaboration with Visa, Mastercard and the digital security company Gemalto.

Founded in 1968, National Westminster Bank is a retail and commercial bank in the United Kingdom. It was formed by the merger of National Provincial Bank and Westminster Bank. Since 2000, it has been part of The Royal Bank of Scotland Group.

by Megha Bhattacharya
Market Analyst at IBS Intelligence
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