Santander-backed Asto finance app preps for beta launch
London-based finance app Asto is out to help SMEs and will be launching in beta soon with the backing of Santander.
The firm plans to be a “pocket business helper”. It’s offering time-saving options – such as doing expenses “as simple as snapping a selfie” and removing the plague of paperwork.
Its message is simple: “The app that gives you back time.”
Asto says it’s starting with Santander customers because that’s the first bank account its app can connect to.
For now, users can snap and tag paper receipts, keep them online, and link their Santander bank account – to provide a heads-up of day-to-day finances.
Like many other new companies, it wants user feedback as to what other functionality should be introduced next.
For example, on its website it offers a vote option. People can vote for either reconciling receipts to a bank account, export receipt data etc.
Asto says: “We’re starting with the small, repetitive things that swallow up your time. But have big plans for the future. With fresh thinking and empowering technology, we believe we can fundamentally change the way business works.”
Sigga Sigurdardottir is spearheading the initiative. She is currently leading Santander UK’s Customer and Innovation Team.
There are no specific timelines yet, but Asto says it will open the beta to a wider group “as soon as we can”. UK-based individuals can sign up to its waiting list for more information.
FinTech Futures contacted Asto for more details. It says it’s in closed beta and is aiming to launch open beta in Q4 2018.
It is not regulated yet. It explains that it has applied to the UK’s Financial Conduct Authority for authorisation to carry out certain regulated services. Again, no timelines on that.