A Chat with Ammar Kutait, CEO and Founder at Smart Finance App: W1TTYDana Leighon January 7, 2022 at 11:00 TechRound


W1TTY is a London-based smart finance app that we have developed to improve young people’s financial wellbeing and literacy. We provide users with simple and customisable tools and features to help them manage their money, understand their spending habits, build on positive behaviours and achieve their financial goals.

We are currently operational in Lithuania, Poland and Portugal, and we recently secured our electronic money institution (EMI) license from the FCA, which will allow us to launch in the UK in early 2022.


How did you come up with the idea for the company?

The banking industry has seen many newcomers enter the market over the last decade, but none of them, in our opinion, truly had an offering that catered to the needs of Generation Z.

The current wave of neobanks we are seeing are geared towards millennials and above, but what about the 16–24-year-olds? They have their own wants and needs for a banking partner, and that’s the gap we’re hoping to fill at W1TTY.

We want to empower people to achieve their financial goals by first providing solutions such as made-to-measure finance plans, money transfer, multiple accounts, video call customer service, financial education by video and podcast and crypto capability. And that’s just the beginning – we have created W1TTY so that it can respond to changing market demands, ensuring that our clients can stay in control of their finances.


How has the company evolved during the pandemic?

We are still a young company, so we’ve spent a lot of time during the pandemic building our app and our features, growing in the markets we already operate in, all the while planning for our UK launch.

We have also spent a lot of time focusing on customisation – it’s something we’re really passionate about at W1TTY. We know young people want a more personal relationship and experience with their banking partner so our team of experts is always looking at new features and products that we can build that cater to our customers. It’s what sets us apart.

We also recently celebrated 10,000 app downloads and our customer base is growing by around 27% week-on-week, so we’re in a really strong position as we enter 2022.

What can we hope to see from W1TTY in the future?

Our biggest priority for 2022 is our UK launch, which we are busy getting everything prepared for.

Aside from that, you should expect to see lots of new feature launches from W1TTY that will be entirely different from what we’ve historically seen from the banking sector!

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