Today: Jun 23, 2024

Cheddar sparks savings app comeback amid rising living expenses.

1 min read



Cheddar Relaunches Savings App Amidst Cost of Living Crisis

TLDR:

  • Cheddar has relaunched its savings app, Cheddar 2.0, to help UK consumers during the cost of living crisis.
  • The app offers cashback, savings, and personalized recommendations based on spending patterns.

Cheddar, a pioneering FinTech company, has relaunched its savings app, Cheddar 2.0, in response to the cost of living crisis in the UK. The app aims to alleviate financial pressures for consumers by offering instant cashback and savings from top UK brands. Cheddar’s app integrates seamlessly with users’ lives, providing personalized savings recommendations and immediate cashback directly into their bank accounts.

The upgraded app, available nationwide, connects users’ bank accounts and credit cards to offer tailored saving solutions. With enhanced cashback rates from over 150 retail partners, including Amazon and ASDA, consumers can save significantly on groceries and fuel. The app also features bill splitting and a cash bonus referral system to help users manage finances and share benefits with others.

Cheddar’s innovative loyalty and rewards approach, supported by Open Banking data and AI, provides brands with a platform to reach valuable consumers directly. This not only drives brand loyalty and revenue but also establishes Cheddar as a leader in the FinTech space for consumer savings and financial management tools.

Luke Ladyman, COO and Co-Founder at Cheddar, emphasized the app’s benefits in helping consumers spend smarter during the cost of living crisis. The app harnesses open banking infrastructure and AI to empower users to access instant savings almost every time they shop. Cheddar looks forward to expanding its reach across the UK and becoming the most innovative personal finance app in the country.