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The language model for banking data

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Personalization and financial wellbeing

 

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Creditworthiness and risk

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Everything you need to know about Bud.

How Bud’s ultra-precise transaction categorization and merchant identification powers subscription management app Little Birdie

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Industries
Personal financial management (PFM) fintech
Goals
Identify recurring payments to help consumers manage their subscriptions
Type
B2C

Products used

Engage

Our money management, PFM, personalization and financial wellbeing solution

Little Birdie addresses the problem of wasted money on unused subscriptions with a subscription and bill management app.

Bud's AI-powered data intelligence platform identifies and categorizes recurring payments so that consumers can cancel or switch to a better deal.

  • 17,000 subscribers
    More than half of the subscriber base are active users of this clever bill manager app.
  • 4,500 open banking adopters
    Customers who connect at least one bank account or credit card to the service can see, understand and act on their subscription spending.

     

     

  • Identifying 10+ subscriptions per user
    Little Birdie estimates that the average customer with a connected bank account could have at least 10 regular payments that could be optimized. 

"Our partnership with Bud allows users to connect the Little Birdie app directly and securely to their bank accounts using Open Banking – seamlessly allowing us to identify all their regular payments and manage their subscriptions in one place.

This then makes it easier for users to view, switch and cancel regular payments meaning they can secure better value for money when finances are tighter than ever.”

 

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Martin Bould
Founder and CEO, LittleBirdie

 

Martin Bould LittleBirdie

Problem 

Each year, $30+ billion is wasted on unused subscriptions and ‘free trials’ which are often difficult to cancel. Research has shown that 1 in 4 people have signed up to a subscription by accident and 1 in 15 are in a subscription that they don’t use.

Little Birdie, a subscription and bill management app, is leading the charge to help customers identify, manage and cancel unused or unwanted subscriptions.

In order to scale quickly and effectively, Little Birdie needed a ready-to-go solution that could help them onboard customers and identify their recurring payments. 

Solution

Little Birdie selected Bud's data intelligence platform to underpin and further enrich their subscription management application and IP. Using our Engage product, users can connect their accounts securely within the app.

Our transactional enrichment model then identifies and accurately categorizes subscriptions, helping customers to understand them and take action. With our >97% accurate categorization, Little Birdie’s customers get precise insights into where their money is going so that they can take action.

Want to know how Bud can level-up your PFM features with market-leading categorization?
Get in touch today!

Raw transaction-1

Outcome

Having attracted some 17,000 app users since its launch in October 2022, the appeal of subscription management capabilities to consumers is clear. 

More than half of the user base are active users of the app, and Little Birdie estimates that the average household is saving between $600 and $1,200. 

4,500 people have connected at least one bank account or credit card to the service, and Little Birdie estimates these customers could have at least 10 regular payments that could be optimized. 

From ‘set and forget’ subscription traps to underused gym memberships or expensive streaming services, customers of Little Birdie get visibility of all of their subscriptions and recurring payments, allowing them to identify opportunities to save and improve their financial position.

"It's not just about the information that you can see – we want to see the really interesting insights, what we can do with this data and what kind of intelligence can we get off the back of it. How can it add value to these end-customers?

Through our transactional intelligence, we're able to ingest data from the banks and from there enrich it, add more context and pull out things like categorisation, subscription type, merchant and so on.

By giving consumers greater visibility of recurring transactions such as subscriptions and Direct Debits, apps such as Little Birdie can enable them to tackle ‘set and forget’ subscription traps, make valuable cost savings, and help to improve their longer-term financial resilience."
 

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Thomas Purton
'Engage' Product Manager at Bud

Thomas Purton

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