- Moneyhub has teamed up with intelligent money management app Marygold & Co. UK.
- The partnership will integrate Moneyhub’s Account Information and Payment Initiation Services (AIS and PIS) functionality into Marygold’s new wealth app, slated to be released next year.
- Moneyhub made its Finovate debut at FinovateEurope 2015 in London.
Data, intelligence, and payments company Moneyhub announced a partnership with intelligent money management app provider Marygold & Co. UK. Through the partnership, Moneyhub will provide Account Information and Payment Initiation Services (AIS and PIS) for Marygold’s new wealth app, scheduled to go live in 2025.
“Given our aligned aims of improving the country’s financial wellbeing through innovation, we’re very pleased to be partnering with Marygold & Co. UK as they prepare for launch,” Moneyhub Managing Director of API Kim Jenkins said. “Armed with a myriad of Open Banking and Open Finance-enabled tools, the app is set to deliver fantastic outcomes for consumers and businesses alike.”
Marygold’s app will make it easier for customers to save without having to switch bank accounts. The solution features customizable reminders, automated savings nudges, special savings pools, as well as hidden “piggy bank” options and secure, me-to-me transfer functionality. Users’ savings earn competitive interest rates and the app also has a number of features that help provide financial oversight for elderly and vulnerable users. Small businesses using the app also benefit from competitive interest rates on their working capital and cash.
“Our partnership with Moneyhub underscores our commitment to delivering a truly transformative financial management experience,” Marygold & Co. UK CEO Matthew Parden said. “By leveraging Moneyhub’s advanced Account Information and Payment initiation Services, we’re able to offer our users unparalleled insights and control over their finances, making it easier than ever to save, manage, and grow their wealth securely and efficiently.”
Marygold & Co. UK is backed by the Marygold Companies, a publicly-held firm that trades on the NYSE under the ticker MGLD. The company was launched in 2021 to make acquisitions in the U.K. for its U.S.-based parent. Marygold & Co. UK provides wealth management and savings services to customers in the U.K., combining app-based functionality with access to qualified financial advisors. Last month, Marygold & Co. UK announced a partnership with U.K. fintech bank Griffin that allowed the firm to embed savings accounts in its app. Earlier this year, the company acquired U.K.-based investment advisory firm Step-By-Step Financial Planners Limited (SBS). The acquisition was Marygold & Co. UK’s second, having acquired U.K.-based financial advisory firm Tiger Financial & Asset Management Limited in 2022.
Moneyhub made its Finovate debut at FinovateEurope 2015 in London and returned to the Finovate stage two years later for FinovateEurope 2017. The data, intelligence, and payments company develops software for Open Banking, Open Finance, and Open Data applications. Moneyhub’s platform enables businesses in industries from finance to retail to transform their data into personalized digital experiences and initiate payments.
Moneyhub’s partnership announcement with Marygold & Co. UK comes just days after the company announced that it was working with WPS Advisory to help the independent financial advice firm launch its financial confidence app LifeStage. Designed to supplement the firm’s personalized financial guidance and advice service for employees, LifeStage enables users to better understand their incomes, expenses, savings, debts, and investments and to share selected information with WPS Advisory.
“Our aim is to make financial advice, typically provided through the workplace, as accessible and cost-effective as possible,” WPS Advisory Head of Strategy Natalie Oliver said. “Technology integrations play a vital role in achieving this goal.”
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