Moneyhub adds lenders to open banking connections

Fintech firm Moneyhub has become the first third-party provider (TPP) to connect to Co-Op Bank, Smile Bank and Kroo Bank.

Moneyhub is a global provider of open banking account connectivity, and in the UK alone, provides connections to thousands of institutions.

The Co-Op Bank is the UK’s first ethical bank, providing a range of banking products and services to approximately 2.7 million retail customers, as well as business loans, credit cards and deposit products to a number of UK businesses.

Smile Bank is a trading division of the Co-Op Bank and was the UK’s first and original digital bank offering full-service current accounts, savings, ISAs, investments and credit cards.

Kroo Bank, a digital bank launched in December 2022, aims to change banking for the better, offering customers a current account, an overdraft, deposit protection up to £85,000 and zero fees on spending abroad.

Moneyhub’s technology offers a solution to connect across current accounts, savings, loans, investments, mortgages, property valuations, automotive and pensions, providing a holistic view of an individual's finances.

Over 150 million people have access to Moneyhub’s technology through their partners such as Aon, Standard Life and SEI Investments, or directly through its personal finance app.

Chief commercial officer at Moneyhub, Dan Scholey, said: "Our users have been increasingly asking for connections to Co-op, Smile and Kroo, so we’re delighted to announce that we have become the first TPP in the UK to connect with them via open banking.

"We want to ensure that we continue to offer our users the most comprehensive set of connections in the UK to ensure they can see a true, holistic view of their finances on the app or through one of our partners’ platforms. Only with a holistic view can we truly make informed decisions on our finances, receive personalised advice and guidance, and ensure we are all prepared for later life."

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