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Santander develops together with the fintech Coinscrap Finance “Hucha Santander”

Last July, Banco Santander launched the new product "Hucha Santander", the result of the collaboration between the financial institution and Coinscrap Finance, to improve and develop the operation of digital accounts with a micro-savings product specially adapted to this financial institution.

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The operation of this tool is very simple: set a goal, choose the time, and set your own savings rules (rounding off, periodic/punctual contributions…). Now all you have to do is enjoy the reward! 

Some of the rules that Hucha Santander’s users can activate

  • Rounding: Once activated, this rule allows you to round up purchases to the nearest euro (or two, three, or five) and transfer those cents to your Hucha Hucha account. We have digitized the typical plate where you leave your change when you get home.
  • Periodic contribution: This allows the user to deposit a fixed amount repeatedly in his Piggy Bank account.
  • Income: This rule allows the user to automatically allocate a percentage of their income to savings. 
  • Soccer team: Select your favorite team and save for every goal they score. A fun way for sports fans to save.

Thousands of users are already enjoying the advantages of this tool that has no cost for the end-user.

This is yet another example of how to apply behavioral finance to help the end-user save. It may not seem like much, but with some of our microsavings products, users are already saving on average €2,000/year. 

 For more information about Microservices or other Coinscrap Finance products, we invite you to visit our website by clicking on the following link.

Want to see a live demo? Request a call with one of our agents here.

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