Moneyhub, the award-winning top 100 global fintech, is continuing its upward trajectory announcing three new cross-industry partners in recent weeks for the Personal Finance Technology (PFT) line of business.
PFT, which drives financial wellness through its personal finance solutions, helps its clients to support their customers by better understanding, managing and growing their money. Additionally using its award-winning platform, PFT provides notable opportunities for better Consumer Duty outcomes. This growing market proposition has seen increasing appeal from the advisory and accounting sectors, showcased by recent wins from WPS Advisory, The Tax Guys and 1Legacy.
WPS Advisory (WPSA)
WPSA are committed to making high quality support, guidance and financial advice both accessible and affordable via their LifeStage proposition, with open banking at its very heart.
The partnership will see an app built on Moneyhub’s Open Banking technology, through which an individual will be able to clearly visualise and manage their current financial position, with an immediate pivot into a representation of their financial future, creating an environment where the user can see the impact of their decisions today on their life tomorrow.
The project supports evolution in the employee benefit and wellbeing space, as Moneyhub work with WPSA to engineer better financial outcomes for consumers and seek to solve one of the biggest mental health burdens on UK employees: Financial Stress.
Simon Chrystal, CEO at WPS Advisory comments:
“WPS Advisory have created a unique employee benefit in LifeStage which is designed to provide employers with a full employee support and financial confidence framework which helps align people and commercial objectives.
Our aim, working with Moneyhub as a partner, is to be able to provide full employee support, by combining our own people skills with leading edge technology.
Lifestage provides access to tailored and affordable financial advice at key life stages by means of subscription and employer sponsorship. The App and its wide ranging functionality is supported within an Open Banking framework.”
The Tax Guys
The Tax Guys are a tax advisory and accountancy services leader targeting sole-traders and small businesses. Seeking a digital solution to help clients stay on top of their finances and reduce the administrative burden of filing clients’ tax returns, they approached Moneyhub.
The Tax Guys will be offering their clients free access to a co-branded version of Moneyhub’s award-winning consumer app through Moneyhub’s Multibuy Plan proposition. This demonstrates their commitment to the financial wellness of their customers, as well as enabling those customers to easily share accurate data with The Tax Guys via the app for their tax returns digitally throughout the year.
Jonathan Amponsah, Managing Partner at The Tax Guys comments: “We’re delighted to partner with Moneyhub to roll-out a real win-win solution for The Tax Guys and our clients: we can streamline the admin involved in submitting tax returns, make it easy for our clients to share relevant data with us, and help them improve their financial wellness.”
1Legacy
1Legacy is a market innovator with a soon-to-launch digital portal that will help people navigate different stages of their financial life, plan for retirement, preserve assets and remove some of the heavy lifting involved in leaving and receiving a financial legacy through inheritance.
1Legacy are white labelling Moneyhub’s financial management platform to offer their customers a complete and accurate picture of their finances alongside liquidity, assets vs. liabilities ratio and a probate cost calculator. Moneyhub is integrating with secure document storage vault Legado and scanning service Cleardata to enable 1Legacy users to access all of their important relevant documents, such as their will, through the app.
Hendrik Bruinette founder at 1Legacy said: “We want to give people at every stage of life the intuitive tools they need to feel empowered and navigate life’s transitions. Whether that’s becoming a parent, preparing for retirement or getting an idea of what you are able to leave your loved ones. Navigating a financial legacy has traditionally involved stacks of paperwork and many complicated moving parts. Moneyhub’s technology will help us remove some of the administrative burdens and give people a really clear picture of what they’ve got, and what that looks like as a legacy. They have been fantastic at integrating with other systems to fit our requirements and we are excited to continue our work together.”
Mark Horwood-James, MD of Moneyhub’s Personal Financial Technology said: “ It’s heartening to see more businesses and sectors putting financial wellness at the heart of their strategy. Now, more than ever, people want and need to take control of their money, and seek out firms they entrust to help them do that through tools and technologies. We are very excited to be working with WPS Advisory, The Tax Guys and 1Legacy to unlock their customers' financial potential as well as help these clients achieve their strategic goals.
The adoption of Open Finance technology benefits consumers and businesses alike, driving financial wellness for individuals, and offering firms unparalleled insights to drive better customer outcomes in line with Consumer Duty.”
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Notes to editors
Contacts
Ingrid Anusic
Marketing Director, Moneyhub
ingrid.anusic@moneyhub.com
M: +44 783 722 6553
Eleanor Ross
Senior Account Director, Teamspirit (Moneyhub PR Agency)
ERoss@teamspirit.uk.com
M: +44 7393 758 446
About Moneyhub
Moneyhub is a data, intelligence, and payments company which develops ISO 27001 certified software for Open Banking, Open Finance, and Open Data applications. Its FCA-regulated Open Data platform enables companies to quickly and easily transform data into personalised digital experiences and initiate payments. Its APIs and fully customisable platform provide data aggregation, insights, notification nudges, and payment systems. As a result, clients have the consent-driven data and analytics they need to create super-personalised offers, products, and services. Hundreds of organisations, spanning finance to media and retail, rely on Moneyhub’s award-winning technology.
For more information, please visit www.moneyhub.com.