British challenger bank Starling has unveiled a joint account for retail customers that can be opened using smartphone.
The technology for applying the joint account has been provided by Google Nearby, which enables joint customers to open an account by sitting next to each other with their phones.
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Joint accountholders can manage their fund from the same app which they use to control their personal account. Additionally, the users can monitor their spending with real time updates attributed to each person.
Using Bluetooth and Wi-Fi, customers can tap on ‘find their other half’ functionality in the application process to find their companion with whom they want to open the new join account.
Starling Bank CEO Anne Boden said: “Joint Accounts are notoriously difficult to set up and cancel. However our new technology removes the pain of setting up a joint account by letting our customers do it from the comfort of their own home.
“We are using technology to take the stress and inconvenience out of banking and empower individuals – and now couples – to take control of their finances. Following hot on the heels of the launch of the UK’s first app only business bank business account; our joint account is the next step towards transforming the banking industry for customers.”
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By GlobalDataIn case a relationship break-up, the joint accountholders can individually lock and close the account by directly contacting the bank.
