Paragon Bank has partnered with Moneyhub to launch ‘Spring’, a Paragon savings app designed to help UK consumers maximise their savings. This collaboration leverages Moneyhub’s data and insights platform to provide seamless Account Information Services (AIS) and Payment Initiation Services (PIS), enhancing the app’s capabilities and user experience. Spring aims to address the issue of “current account coasting”, where over 29 million UK adults leave their money in low or zero-interest accounts, missing out on billions in potential interest. Spring offers a competitive interest rate of 4.30% AER, significantly higher than typical rates available from Big 6 banks, without the need to switch current account provider. Spring uses Moneyhub’s Open Banking technology, allowing it to connect effortlessly with a customer’s existing current account. This integration enables customers to view their current account balance in the Spring app and seamlessly move money between accounts, providing users with full control over their savings. The app also offers features such as savings pots and unlimited withdrawals, all without hidden fees or restrictions. This partnership has proven to be highly effective, marking the beginning of a journey focused on long-term vision and data utilisation to enhance financial outcomes for Paragon’s customers.