Santander has launched new tools to help its customers with their financial health.
The bank has launched two new tools within its Financial Support Hub.
They include a Budget Calculator and Financial Health Check.
Through the mobile banking app, customers can review their spending through a series of questions and then are supported to budget accordingly.
What does this mean?
The current cost of living crisis has presented an opportunity for banks to show they can be there for their customers and support them, boosting loyalty as many have turned to FinTechs for their everyday spending and financial management. Santander is using data to proactively identify customers who may be at risk of financial problems and support them accordingly.