London-based Ideavate Ltd (trading as ‘Onedox’), has been selected to take part in a twelve week FinTech programme starting on January 3rd, 2018.
The Accenture FinTech Innovation Lab brings together top FinTechs and major financial institutions looking to identify and incorporate innovative financial technology within their offerings.
Ideavate creates digital solutions to automate household bill management. As showcased through its free, direct-to-consumer application Onedox, the technology acts like a digital P.A. for managing household utilities.
The idea behind Ideavate came when co-founder and CEO David Sheridan struggled to help his mum understand why she was being charged so much for her household bills and the work involved with then finding better deals each year.
This highlighted the manual, administrative processes of data collection and deal hunting that cause millions of UK families to disengage from household bill management and collectively waste billions each year as a result.
By providing a radically more transparent and convenient solution consumers save time and money so they can spend more on the things that they love.
Having been recognised as a leading UK FinTech innovator by Digital Leaders in 2017, Ideavate’s inclusion in the retail stream of the Accenture programme recognises the opportunity for its technology to transform household administration and the way in which consumers source appropriate suppliers for their household utilities.
Financial institutions leveraging Ideavate’s technology are provided with an innovative means of acquiring and engaging with customers, by providing capabilities that haven’t been previously available.
Sheridan said: “Our ambition is to empower UK families with transparent access to their own household expenditure and account information.
“By making this information centrally accessible and automating previously manual processes, consumers have a convenient means for making controlled spending decisions and to stop collectively wasting billions a year by defaulting onto expensive, inappropriate deals at the end of introductory contract periods.
“We’re delighted to participate in the 2018 FinTech Innovation Lab and see partnerships with progressive financial institutions as an important channel for making the benefits of our technology available to millions of consumers.”