HSBC has begun trialling a new app that acts like a financial "personal trainer" to help users save money and be more aware of their spending habits.
The app, called Nudge, applies a theory of the same name developed by the London School of Economics (LSE) and "nudges" customers about their spending, providing encouraging notifications designed to improve willpower and help achieve long-term financial goals.
The app has 38 types of nudges, including notifications on how much a customer spent on groceries the previous week, and updates on how much they are spending and saving compared with others on similar incomes.
According to a YouGov survey commissioned by HSBC more than half (54 per cent) of 2015 New Year resolutions failed by the end of January.
Nearly seven in 10 said receiving encouragement would have helped them be more resolute.