Frost to start beta testing ahead of 2021 launch

By Megha Bhattacharya

UK-based online current account Frost has started beta testing ahead of its full launch next year. The service uses intelligent functionality to allow users to set up an account and manage transactions, including bills, direct debits and balance transfers, all from one application, thereby saving them time and money.  The mobile account will be launched in the first half of 2021.

Pawel Oltuszyk, co-founder and CEO of Frost, said, “Now is a wonderful time to be thinking about money management and what that means to us as individuals. Our vision is to help Frost customers better understand their finances and save them time and money by automating boring, time-consuming tasks, such as finding better deals and switching providers.”

“This is because our Save Assist engine will do all the heavy lifting for our customers, making smart and informed decisions and alerting them instantly so they can save on their utility expenditure by being on the best possible deal.”

Frost aims to help customers manage their money and select deals on the market. It also allows users to send and receive payments using just their phone number and exchange currency at the preferential inter-bank rate for a small fee.

Users will have the functionality to automatically compare utility companies and find their choice of deals. Frost’s app is powered by an Artificial Intelligence (AI) engine called Save Assist which boosts the level of automation a user can enable in their account while also benefitting from personalised features and improved functionality.

Edyta Sliwinska, co-founder and chief marketing officer for Frost, said, “The seasonal break is a valuable time to think about finances, make New Year’s Resolutions and plan for the year ahead. This is why we have invited some of our future Frost community to put the service to the test during this beta testing stage and make their recommendations. By doing this, we can create the best and most user-friendly experience, so our customers find it as easy as possible to manage their finances and keep those Resolutions for a lifetime.”