Banks’ inability to use their customer’s data to help them save – as well as dependence on credit products for profitability – mean consumers are rewarded more for spending than for saving. Dozens was created to make saving easier and more rewarding for all and is founded on a fundamentally new business model.
With a full-featured app at launch, Dozens has created a new home for your money. It brings together a current account, a smart budgeting tool, and a savings and investment manager in one app, along with cash rewards for good financial behaviour.
Dozens has integrated with over 20 partners in bringing a unique solution covering spending, saving and investing, to the UK retail market. One of the business challenges Dozens faced was the need to offer an international remittance immediately after going live. For this, they needed a partner with good technical capabilities who could enable them to get to market quickly and be big enough to accommodate their growth.
Dozens has integrated with over 20 partners in bringing a unique solution covering spending, saving and investing, to the UK retail market.
“Integrating with the Currencycloud platform was straightforward and we completed the implementation within a month despite it being a very busy period for our development team. They were very helpful and efficient throughout the implementation cycle and we found having a shared slack channel from day one particularly handy in getting quick resolutions to integration issues. Availability of an implementation specialist to help with development and testing was also very beneficial.”
Aritra Chakravarty, CEO, Dozens
Currencycloud’s fully compliant platform enables Dozens’ customers to get access to one of the best FX rates on the market. It offers live rates and fast execution. Dozens launched with four currencies but due to Currencycloud taking care of all compliance issues, they have already been able to add in a second round of currencies, including Indian Rupee (INR), which is a restricted currency.
Integration with Currencycloud was simple, straightforward and achieved in just one month.
Since its launch on app stores in early 2019, Dozens is growing its customer base by 20% each month and now has more than 20,000 account holding customers generating more than £330k of card spend abroad.