Wealth Wizards, the financial advice technology provider, is to utilise Moneyhub Enterprise’s data APIs to offer holistic advice and guidance driven by real-time consent driven personal data. The collaboration will allow users of Wealth Wizards’ financial advice chatbot, MyEva, to link their financial accounts – including bank, credit card, investment, savings and borrowing – to the app.
In a drive to help consumers to keep their financial New Year resolutions, and as part of a broader campaign to make financial advice more widely accessible, the progressive national financial adviser LEBC is set to launch its innovative 'Bionic Advice’ service. Bionic Advice is the concept devised by LEBC Chief Executive, Jack McVitie, who identified the need to provide an affordable service to consumers by combining access to human advisers with technology.
Leading money management platform Moneyhub is set to end the year on a high, announcing an expansion in Europe. Having built a notable reputation in the industry, financial services companies eager to plug in to the potential of Open Banking are increasingly turning to Moneyhub to be a trusted partner.
New research from online money management app Moneyhub reveals that 42% of financial management platform users have more than one bank account, as they take advantage of technological innovation and data sharing in financial services. Moneyhub’s research found that while thousands more people are joining challenger banking providers such as Monzo or Starling Bank, 65% of those challenger bank customers also still have accounts with their previous high street lender.
Moneyhub has integrated Starling Bank into its Payment Gateway, the first challenger bank to support PSD2 PISP legislation, joining the growing list of payment providers on the Moneyhub platform. Moneyhub’s integration with Starling Bank’s API allows users to initiate a payment straight from one account to the other quickly, easily, and at a fraction of the cost to organisations of traditional payments. The move follows the implementation of Open Banking in January last year, and comes ahead of the new requirement that all banks must support PSD2 legislation by September this year.
Nationwide, alongside a select group of individual investors, have taken a minority stake in Moneyhub. The investment marks Britain’s biggest building society’s third deal as part of a £50 million Venturing Fund designed to create partnerships in which the Society and the start-ups share knowledge and expertise.
Moneyhub has integrated with PensionBee’s API, enabling users to see their live pension balance within the platform and keep track of multiple pots built up over the years, alongside other investments and accounts. This follows research revealing almost £20 billion in unclaimed pensions, equating to a staggering 1.6 million people, missing out on £13,000 each.
Moneyhub has secured Payment Initiation Services Provider (PISP) authorisation by the FCA, cementing its place as a pioneer of open banking. The authorisation goes one step further from Account Information Services Provider (AISP) status, enabling seamless payments as well as visibility of all financial transactions across accounts in one place.
Moneyhub Enterprise has been chosen to undertake product tests as part of the second cohort of the FCA regulatory sandbox. The regulatory sandbox allows companies to test its innovative offerings in a live environment.
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