Moneyhub is a financial management platform for individuals, advisors and businesses.
Moneyhub has been authorised as a Payment Initiation Services Provider (PISP) by the FCA, having already secured Account Information Services Provider (AISP) status.
The platform gives users oversight of all data relating to their accounts, credit cards, loans and pensions. It caters to individuals, advisors and businesses.
With PISP status secured, Moneyhub will evolve beyond simply offering overviews. Its users may now enact seamless payments from various providers using the platform. Samantha Seaton, the CEO of Moneyhub, has declared: ‘Frictionless Finance has arrived’.
Open Banking, which was implemented in the UK at the start of this year, opens access to the customer data held by the big banks for a range of third party firms, so long as customers grant their permission to the third party. Third parties must also be authorised as either an AISP or PISP by the regulator in order to access this data. Just ten PISPs have been authorised to date.
In tandem to its authorisation, Moneyhub has also launched its API gateway. It says this will form the largest ‘one stop shop of personalised, permission based, financial data sources’ and that it will give businesses access to a comprehensive source of data streams.
“It will power a new wave of innovation that will revolutionise people’s relationship with money and the way they buy products and services,” said Seaton of the gateway.
Moneyhub will charge users of the gateway on either a ‘per account’ or ‘per user’ model.
Now in its sixth year, the AltFi London Summit returns on 18th March 2019 to 155 Bishopsgate. Last year proved to be a crucial turning point for the key players building the future of finance. Leading platforms launched oversubscribed IPOs, digital banks proliferated and mainstream financial institutions started their own disruptive propositions. With 2019 certain to be another landmark year, more questions will be asked by regulators with investor interest in disruption also poised for more rapid growth.