By Aisling Finn on Tuesday 29 September 2020
The partnership will see the two fintechs share account aggregation data and use open banking to strengthen their client offerings.
Multi-currency cash and deposit management platform Akoni has teamed up with financial wellbeing platform Moneyhub to bolsters its money management services.
As part of the new partnership, Akoni’s consumer and business customers will be able to see their, or their client’s financial information, in one place and compare market rates by using Moneyhub’s API.
Akoni, which can help users earn up to 10 times more interest on a business’ cash, will also utilise Moneyhub’s Nudges which let users know when they can save some money once Akoni compared interest rates and savings products across the market.
“This collaboration is another step in innovation within the financial sector, challenging the status quo and producing solutions designed with the client in mind.”
Businesses can use the platform directly with AkoniHub while wealth managers, investment platforms, advisers and other partners can provide savings solutions and cash tools to their clients through rebranded platforms.
Samantha Seaton, CEO of Moneyhub, added: “Open Finance has the power to transform the way that both individuals and businesses manage their money. Using Moneyhub’s Open Finance APIs allows Akoni to get to market quicker and more efficiently.”
Moneyhub also provides compliance and regulatory solutions for businesses, helping banks to become fully PSD2 compliant in under 30 days using its open finance account aggregation platform.