Founded by ex-HSBC employee Aritra Chakravarty, Dozens takes a more drastic approach to creating a new way of banking, based on his idea that banking does not currently benefit the customer.

"We’re changing the fundamental model of banking," he told Techworld. The idea is to build a combination of a digital current account which prioritises effective saving and investing so that customers get more from their money than with traditional providers. "The journey we are trying to follow is spender to saver and saver to investor," he added.

Chakravarty takes a pretty academic approach to the problem, which you would expect from someone that did their Masters in finance at the London Business School. "This is based on a statistic I saw: most people check their balance in their app twice a day. Not everyone is doing that so there must be some segments that are checking a lot, and if you are you aren't making savings, it is to check if you can buy the next pint of beer. So they needed better budgeting tools to even get onto the savers track."

In practice this means when you sign up with Dozens you open both a current account and an savings account at the same time. Money held in that savings account can be put into a 5% per annum interest bond to help you start benefitting from savings straight away.

As the website states: "Our income as a business is directly linked to the returns we create for you. We keep a smaller share and pass on the majority to you. Unlike most banks, we are not looking to make money from things like overdrafts, but by helping you save, invest and grow your money. So our goals are the same as yours."

Dozens received $8 million (£6 million) in seed funding from Hong Kong-based STI Financial Group and £3 million in seed funding in May 2019.