Switcho

Switcho is a digital service that allows you to better understand your expenses and manage your savings, quickly and easily. Switcho is a fintech app that allows you to connect your current accounts (in total security and according to the European PSD2 regulation), automatically analyze your expenses and offer better solutions on energy, internet and mobile expenses. In particular, Switcho allows you to activate a free change of supplier (the "switch") within the app. The logic that guides the service is that of savings for users and the simplification of the already complex bureaucratic steps related to expenses.

Customer needs

In Italy, the average income per family is € 2,600 per month, of which about 70% is dedicated to " necessary" expenses and only 30% is dedicated to other expenses and savings (source ISTAT), with declining purchasing power (-4% 1998-2018) (source Infodata Sole24ore).

Faced with the theme of saving and controlling one's expenses, Switcho was created to guide families in saving actions on expenses, making them effective in just a few clicks.

Technology

The digital platform is the main asset linked to Switcho's service, reachable through web, mobile and a mobile app available in the IOS and Android stores.

Each user has the possibility of accessing a reserved area with a dashboard of open files and another (accessible only via App) to link their accounts and receive targeted saving suggestions.

Customer traction

Switcho in its first 18 months of life has reached about 40,000 users, converting more than 6,000 contracts. The value of production in 2020 was about € 160,000. In the first four months of 2021, turnover was about € 130,000, with an annual run rate benchmarked to April 2021 of about € 600,000, very close to the target of € 700,000.