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MoneyHub Integrates with Challenger Banks Starling, Monzo

Financial management platform Moneyhub has integrated with the APIs of U.K. challenger banks Monzo and Starling, providing customers of these banks with “a holistic overview of all their financial assets through Moneyhub’s platform,” reported Tanya Andreasyan of FinTech Futures (Finovate’s sister publication).

Integration enables Monzo and Starling customers using the Moneyhub app to choose to link up current and savings accounts, credit cards, pensions, loans, mortgages, SIPPs, ISAs, and investments. Moneyhub said its technology features the most data links of any aggregation provider in the U.K.

Monzo and Starling users will have access to Moneyhub’s proprietary categorization engine and personalized Smart Nudges, the fintech says, “empowering them to make well informed monetary decisions across all assets held and fulfill their financial wellbeing potential”.

Moneyhub is authorized by the U.K. regulators as an account information service provider (AISP), under the new PSD2 and open banking rules. It works with banks, investment managers, pension providers, and employee benefit consultants to provide financial management white labeled solutions and APIs for their clients.

The company stated it is poised to work with all the nine CMA banks when they go live, and is currently integrating with the six that are ready for open banking.

Meanwhile, Yolt, a financial management app from ING, said it has reached 250,000 users in less than a year. The “smart thinking money app” was launched in June last year, and enables users to view their accounts and credit cards in one place.

Yolt, too, has integrated with Monzo and Starling, and also with RBS and Lloyds Banking Group via open API.

Frank Jan Risseeuw, CEO of Yolt, said the app reached 100,000 users in the first six months and onboarded another 150,000 in the following three months.

“We couldn’t have achieved this milestone without the feedback and suggestions from our brilliant Yolt community,” he stated. “We endeavor to listen to each and every one of our users as we continue with our aim to be the only money app that you need.

“We want to do all the hard work for our users, so they can get on with enjoying their lives.”

Headquartered in Bristol, U.K., MoneyHub demonstrated its Moneyhub Enterprise SmartAssist solution at FinovateEurope 2017. SmartAssist is a proactive intelligent messaging tool that helps users make better financial decisions. Moneyhub was acquired by South African insurance company, MMI Holdings, in 2014. Last month, the company sent its CTO Dave Tonge to mainland Europe to further the Moneyhub’s PSD2 strategy.