By Oliver Smith on Friday 31 July 2020
A push further into the world of B2B2C for the digital wealth manager.
Just a month after reaching £1bn in assets under management, digital wealth manager Moneyfarm has launched its own APIs in Italy and the UK.
The move means that banks will be able to integrate Moneyfarm directly into their customer offerings, as well as pull data from Moneyfarm accounts to better understand their customers.
In order to offer its services via API, Moneyfarm partnered with Italian open banking provider Fabrick.
“With Fabrick, we can respond to the need for traditional financial operators to offer increasingly digital and advanced solutions to their customers,” said Moneyfarm co-founder and CEO Giovanni Daprà.
“Through this agreement we are ready to make our offer available to players who need to integrate modern and innovative solutions easily through partnerships.”
While Moneyfarm counts 45,000 customers, its growing edge has been through a partnership model of offering its digital wealth management as a module for other financial institutions to integrate.
For example, last year it announced an exclusive partnership with Allianz in Germany and a strategic product collaboration with Poste Italiane customers in Italy.
Clearly the Fabrick deal and launch of its own APIs is a move to further bolster this strategy, and attempt to integrate Moneyfarm as the default digital wealth provider for even more partners.
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