Youtility trials budgeting tools with Citizens Advice
Written by Peter Walker
Home finance platform Youtility has been selected as one of four providers to participate in the Citizens Advice product testing programme.
The project will see the clients of four Citizens Advice Bureaus - Bassetlaw, Hammersmith and Fulham, Cardiff, and Vale and East End - trial digital tools designed to help users budget, while testing the providers’ switching services for better home finance deals.
The programme, designed to test whether digital tools could increase competition in the ‘essential providers’ market, will run for four months.
Youtility is the first comparison and switching app to connect directly to bank accounts through Open Banking Application Programming Interfaces (APIs).
The UK FinTech, founded in 2016, also announced that it has been granted funding for a 30-month Knowledge Transfer Partnership with University of Kent’s Computing School. Through the partnership, which begins in June, the university will support Youtility in building machine learning models into its existing technology.
Several senior hires have also been made to support the company’s growth.
Khalil Dimachkie has joined as chief technology officer, having previously worked at Experian and more recently biometric tech company SmilePass. Other new joiners bring experience from Zopa, Microsoft, TransferWise, Experian and The App Business.
Co-founder Will Kostoris said: “Since we launched in November 2018, we're delighted with the positive feedback and uptake for our service and these latest developments reflect both our growth as a business and the true scale of potential for Youtility in the market"