NatWest has developed an app to help renters split bills.
In Brief:
The Housemate app is aimed at renters living in shared accommodation.
It uses Experian’s open banking platform.
The app tracks who owes one another money, as well as helping users build their credit score.
What does this mean?
NatWest conducted a survey finding that 45% of renters living in shared accommodation find it “uncomfortable” to remind housemates to pay bills. One in five people are also worried that renting doesn’t help them build their credit score. NatWest’s solution aims to resolve both of these problems.
