Santander has launched the UK’s first standalone ISA mobile app. The app, which was designed by and developed with Monitise Create, is the latest in a series of fintech initiatives between Santander and Monitise. It’s available to Santander customers and non-customers on iOS and Android, and is designed to help consumers manage their ISAs (tax-free Individual Savings Accounts) and find out more about the products and rates available to them ahead of the UK ISA deadline on 5 April 2015.
The app enables consumers to view information about ISAs, compare interest rates, find out how much interest they can earn, and keep track of how far off the ISA deadline is via a bold countdown clock, to ensure they maximise their ISA allowance. Using the app, consumers can also open new ISAs, upgrade existing ones and make transfers into ISAs.
The launch follows Monitise’s collaboration with Santander on the launch of Yaap, the bank’s Spanish m-commerce joint venture with CaixaBank and Telefónica; and Santander’s SmartBank app designed for students. In November 2014, Santander, together with Telefonica and Mastercard, made a £49.2m investment in Monitise.
“The app will help people to maximise their tax efficient savings and make the most of their hard-earned cash,” said Helen Bierton, head of savings at Santander. “With this year’s ISA deadline fast approaching, now is the time for savers to look to make use of their ISA allowances to ensure they take advantage of the tax-free interest available to them.”