New UK fintech Frost to launch next month

A new UK-based fintech, Frost, is set to launch on 4 May, according to a statement from the start-up.

New e-money fintech in the UK: Frost

The firm’s app will allow users to open a digital e-money account and will offer features such as spend management tools to track spending and service switching options to compare and switch utilities, insurance and mortgage providers. Frost will also enable foreign exchange and cross-border payments with transparent fees.

In February, the fintech became the latest in a string of companies to join the Visa network, allowing it to issue debit cards to users.

“Over the past month we’ve been testing our new debit cards in conjunction with the Frost app,” the start-up says.

Ahead of its launch, the firm adds it aims to help “busy people find smarter, more innovative ways to manage their money in an extremely challenging economic climate”.

The app currently has a waitlist of over 15,000 people. Frost says it will begin inviting users from the waitlist starting launch day, with those highest on the list being invited first.