The new service, named B, will be designed specifically for mobile and tablet devices, and aims to bringing new customers and offer them the ‘fastest account opening process in the UK’.
Designed following customer feedback, the banks aim for the new technology to encourage existing customers to make the transition into mobile banking, and attract younger users from other retail banks.
Helen Page, customer experience director at Clydesdale Bank and Yorkshire Bank, said: “We worked in collaboration with Market Gravity to devise a new banking experience for our customers and to disrupt the category. B represents a challenge to other banks and is based around an app that has been extensively tested and trialled - we know it’s what people want.
“As part of our background research with Market Gravity, over 10,000 people told us what they wanted from a bank; to take the hassle out of money and make life a bit easier. We listened, learned and took their advice throughout the process to create B - a product designed by customers for customers.”
As well as allowing users to transfer cash between current and savings accounts, and make payments, B will also offer multiple savings pots, tagging and tracking of spending and tailored messages, hints and tips to help customers.
The service will also offer support on hand via the app, or through the branch network and a free UK-based dedicated call centre.
Paul Bowman, Edinburgh managing director at Market Gravity, added: “We were delighted to work with Clydesdale Bank and Yorkshire Bank on the development and launch of the new B platform and it’s exciting to see the concept come to life. It’s great to work with such a forward-thinking team looking to bring innovation and disruption to a traditional sector.
“We are seeing the emergence of new entrants to the sector but there’s no reason an established banking organisation cannot become a challenger and bring their offering into the digital age.
“It’s important for businesses within the banking industry to stay one step ahead and transform themselves into digital banks.”
The new app will be available for free for the first 12 months, and then for £2 a month.