The “subscription economy” has exploded, consumers are struggling to manage their costs, and standalone subscription management tools have boomed. Banks are uniquely positioned to assist their customers with subscription overload, but more institutions need to get in the game. Subscription management is now a critical budgeting tool with the potential to save customers as much or more than a free checking account or a loan refinance. Adding subscription management to your account services will help your customers budget smarter and align their expenses to their values and needs. Bank financial advisors are increasingly recommending that clients audit their subscriptions quarterly. Some are even suggesting setting a “subscription cap” as part of their financial wellness customer check-up processes. But this advice is no more than lip service, when much more sophisticated tools are available to comprehensively meet consumers’ needs. Solutions give control back to consumers by: Algorithmically identifying recurring charges; Exposing unused or forgotten subscriptions; Tracking & monitoring subscription payment deadlines and renewal dates; Alerting users to upcoming milestones; Simplifying cancellation processes; Negotiating more favorable terms for subscriptions they need. A real-world example: A financial institution wanted to grow their base of premium customers by offering a unique digital experience. This financial institution introduced a bill management system to a 200k test population as a freemium trial. More than 28% customers adopted the offering, taking advantage of its ability to auto-identify hidden subscriptions, monitor renewal and payment deadlines, and execute 1-click cancellations of any unwanted services. Fully 12.9% of trial users upgraded to the financial institution’s fee-based premium account for continued access. As even more services continue to shift to subscription models — think cars, clothing, even pet care — the need for robust subscription oversight will only grow. In this landscape, solutions that help consumers regain clarity and control over their financial commitments are more than useful — they’re essential. We predict within 12-18 months, embedded bill management will be table stakes for banks and credit unions of all types, from banks to digital wallets.