Moneyhub, the market-leading Open Finance data, intelligence and payments platform, is partnering with financial health pioneer Otto to enable next-generation employee wellbeing benefits.
Thanks to Moneyhub’s Open Finance connections to the largest number of financial services providers, as well as its smart analytics, users of Otto’s financial dashboard can now see the full scope of their finances, enabling deep insights that lead to greater financial health. And with every Otto user receiving support from a financial coach, data-powered insights create a virtuous circle fostering greater financial optimisation.
Otto’s platform, which is available via employee benefits schemes, is designed to solve one of the biggest mental health burdens on UK employees: financial stress. More than 60% of employees cited ‘financial worries’ as their number one source of stress, according to a recent survey[1].
By creating a complete picture of users’ financial situation, from investments, pensions and loans to mortgages, bank accounts and properties, rather than operating in silos, Otto can empower users to develop a financial roadmap and plan for their futures.
To make its vision a reality, Otto turned to Moneyhub for its Open Finance expertise and leadership. Once users sign up to the Otto platform they’ll be asked if they want to connect their accounts, whether that be an investment account or a pension, with Moneyhub’s technology enabling the connections.
The two companies are natural partners: Moneyhub’s mission to provide its clients a holistic perspective of their finances to enable financial wellbeing compliments Otto’s ambition to promote financial health and democratize access to financial health
Sam Seaton, CEO at Moneyhub said: “Open Finance empowers consumers to have full autonomy over their finances and it enables innovative enterprises like Otto to provide innovative and impactful financial services to their customers. Given our shared drive of improving financial health through smart technology, partnering with Otto has been a pleasure.”
Jan Thomas, CEO at Otto said: “Financial health, as well as the peace of mind that comes from knowing your finances are in good shape, should not be the exclusive benefit of the most well off in society: financial health needs to be democratised and it shouldn’t require a minimum balance, which is why we set up Otto to provide next-level financial wellbeing services. That’s also why we have chosen to partner with Moneyhub, which in addition to being a market-leader in Open Finance, is also a champion for financial health.”
[1] https://www.perkbox.com/uk/resources/library/2020-workplace-stress-survey
Contacts
Ingrid Anusic
Marketing Director, Moneyhub
ingrid.anusic@moneyhub.com
M: +44 783 722 6553
Eleanor Ross
Account Director, Teamspirit (PR Agency)
ERoss@teamspirit.uk.com
M: +44 7393 758 446
About Moneyhub
Moneyhub is the leading Open Banking and Open Finance platform that uses the power of data, intelligence and payments to enhance the lifetime financial wellness of people, their communities and their businesses. Moneyhub’s APIs and white label solutions help businesses - both within and outside of financial services - drive customer engagement through hyper-personalised experiences.
The company takes consumer data security seriously and has been instrumental in the roll-out of Open Banking from its beginning. Leading the way in Open Finance since 2014, Moneyhub is authorised as AISP and PISP by the FCA, ISO-27001 certified, co-founder of FDATA and works on the Pension (OSIP) Dashboard and TISA Open Savings, Investment and Pension steering committees to put the power of data into the hands of those who own it: the consumer.
For more details, please visit https://www.moneyhubenterprise.com/
About Otto
Otto is on a mission to democratise access to financial health, which is currently only accessible to the top 1%. The Otto platform is a comprehensive financial health platform for employees, where users can gain insight into their finances and take action to improve their future. With a comprehensive financial dashboard, smart tech-driven guidance journeys and also a personal financial coach – Otto is all employees need to maximise their financial health.
As an employee benefit, Otto works with employees, acting alongside other health benefits to enable employees to manage their health holistically. This focus on financial health is critical for employers - employees that are financially stressed churn more often and are less productive. Otto is both great for the employer and great for employees…win win!
Check out Otto at www.ottofinance.io