Open finance partnership platform, mmob, has today announced the UK’s first end-to-end broadband switching service. The service will be delivered through the company’s latest partnership with broadband industry disruptor Cuckoo and will enable its commercial partners to easily embed broadband switching into their digital ecosystems using just one line of code through mmob’s and Cuckoo’s API.
The aim of the partnership is to drive broadband switching adoption and deliver volumes and savings in line with the energy sector. This will be achieved by allowing more businesses to offer switching as part of their digital ecosystems while making the process seamless for consumers. Industry data suggests around 6.5 million households switch their energy supplier each year, compared to only 1.5 million broadband switchers. According to a 2019 survey by consumer champion Which, a third of respondents said the primary reason for not switching is the perceived difficulty of doing so.
“Waves of disruption have washed across the banking, energy, and insurance sectors. Yet the last forgotten utility is broadband,” said Alexander Fitzgerald, Founder and CEO, Cuckoo Broadband.
“We all care deeply about our home internet now post-lockdown. So we’re on a mission to make the internet frictionless. This partnership with mmob will ensure that more businesses can help make switching broadband a breeze.”
mmob’s open finance platform eliminates the complexity, time, and resources financial service providers need to select and deploy partner-driven services. Through its API, banks and fintechs can quickly and easily connect to mmob’s network of third-party partners and gain rapid access to new verticals, using just one line of code. Embedding partnerships that once took weeks or months can now be achieved in days.
“mmob was established to help our partners drive engagement and retention by bridging the gap into services their customers want but sit outside their core proposition,” said Irfan Khan, CEO, mmob. “Embedding broadband switching provision into their digital ecosystem is an excellent example of where banks and fintechs can add value through their app dashboard and data to reduce the time and effort it takes consumers to select and complete the purchase of critical services.”