A selection of Netflix Inc. original content sits displayed in the Netflix app on an Apple Inc. iPad tablet device in this arranged photograph in London, U.K., on Monday, Aug. 20, 2018. The NYSE FANG+ Index is an equal-dollar weighted index designed to represent a segment of the technology and consumer discretionary sectors consisting of highly-traded growth stocks of technology and tech-enabled companies. Photographer: Jason Alden/Bloomberg
Old-guard financial firms are targeting youngsters like Netflix Inc with apps that can help customers weed out payments for services they no longer use or have forgotten about – even as options to take on more monthly expenses multiply.
The applications, including those from Goldman Sachs Group Inc, Wells Fargo & Co and Discover Financial Services, assist users in finding recurring fees and in some cases cancel them or renegotiate their costs. Gym memberships, food-of-the-month-club dues, cable commitments, as well as video-streaming services such as Netflix and Hulu, are all vulnerable to impulsive house cleaning. The apps, which sometimes take a cut from the money they save, can also alert subscribers when services hike prices.
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