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UK’s Current Account Switch Service Reaches 5 Million Switches
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UK’s Current Account Switch Service Reaches 5 Million Switches

UK’s Current Account Switch Service Reaches 5 Million Switches

Todd Anderson·
EuropeFintechNews Roundup
·Apr. 1, 2019·1 min read

The UK based Current Account Switching Service, or CASS reached important milestones with 5 million account switches and awareness among the population of 80 percent; while the milestones show some success the program has a long way to go with only 1.5 percent of account holders switching; fintechs and banks need to do a better job at incentivizing switching with offers; Jo Kenrick, chair of the Current Account Switch Service, wrote alongside the report according to AltFi: “Now as we look forward, we aim to make more people aware of the Service and ensure those considered financially vulnerable, know that they too can benefit from switching.” Source.

  • Todd Anderson
    Todd Anderson

    Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.

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bank accountsCurrent Account Switching Servicedigital banking
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