Ex-Morgan Stanley trader launches savings app

"This is where we fit in: we want to help people overcome the initial challenges to saving, and get them to a point where they have the option to go to a financial adviser", Mr Trokoudes added.

The beta-testing of Plum started in October 2016, and is now available for the wider public to sign up.

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Eventually, the team wish to develop a service to help young people "stop getting ripped off on bills", Mr Trokoudes said, "and point them towards and financial planning they may need at different points in their life".