Automatic Price Comparison?


#1

Ok so this is kinda blatantly stolen from looking at the Tandem website which says that they will be ‘finding and switching you to better deals when we know you could be paying less’ but what about if Starling somehow linked up with a Price Comparison service to have recommendations on switches to save you money?

So, Starling could see through you’re Direct Debits that you’ve got your Gas and Electricity with British Gas and knows you’ve spending £70 a quarter so they can work out if you switched to another provider you can save £10 a quarter?

If Starling did this ‘natively’ rather than through a partner in the Marketplace, they could probably also earn a bit of money as well as Price Comparison sites earn their money through referral fees - so Starling would keep that? Although that would kinda be setting up Starling as a completely new business so maybe a Partner in the marketplace would be more sensible.


#2

This is exactly where Monzo are headed so I wouldn’t be surprised if Starling were doing the same.


#3

This probably would be good for some and not others. I would be for this, but only if these recommendations were in their own designated area of the app. I don’t want to be in a situation where my bank bombarding me with Ad’s for useless services they have come up with from mining my data. I get fed up with these in my Email, Facebook, etc and don’t want this in my bank too. They would really have to think about how they execute this.


#4

Yeah Starling, forget innovating, you should just be ‘kinda blatantly stealing’ ideas from other banking startups.

Rolls eyes.


#5

Monzo doing this is a big reason I’m probably not going to switch to them, and use Starling instead. I really hope Starling don’t go down this path.


#6

Without tarrif information this would only ever be a calculated guess. Certainly not good for me and I wouldn’t be staying onboard if I get ads dropped into my feed.


#7

This is something we see coming from our Marketplace partners. You should be able to connect a partner to do this for you if you wish. :slight_smile:


#8

Rather that
…leave my transaction feed alone. ::smiley:


#9

I for one don’t want my bank telling me about things, because it might see some transactions on my statement and then using that to tell me I could save money.

I shop around for the best deals myself. For example you use a site like moneysupermarket, they only show you deals and savings that they earn commission from, so what they show you may not actually be the best deal. Automated systems are there to make money for the company, not to actually safe you the most.


#10

No thanks. I don’t want to be bombarded with adverts and promotions from my bank.

Price comparison sites are useful, but not perfect, as they don’t take into account all factors, or indeed all companies, and it would be no different.

If people want to use them though, there are plenty out there. If you want to find out if there are better deals out there, you will have to do the research yourself. We can’t expect others to do it al for us.