Moneyhub has partnered with Marygold & Co. to launch a new wealth management app.

The app, which was designed by the money management firm for individuals and businesses, is set to launch in early 2025.

Marygold & Co. said the app is will streamline customers’ ability to save without needing to switch banking accounts.

Moneyhub is set to add to the app’s capabilities by providing account information and payment initiation services.

The app features customisable reminders, automated savings nudges, special savings pools, hidden ‘piggy bank’ options and secure me-to-me transfer technology. It also introduces safety features to help with financial oversight for the elderly and vulnerable.

Small business will also have access to "competitive" interest rates on working capital and cash, helping them to maximise returns on idle funds and better manage their finances.

Managing director of API at Moneyhub, Kim Jenkins, said: "Given our aligned aims of improving the country’s financial wellbeing through innovation, we’re very pleased to be partnering with Marygold & Co. UK as they prepare for launch. Armed with a myriad of open banking and open finance-enabled tools, the app is set to deliver fantastic outcomes for consumers and businesses alike.

"Going forward, we have no doubt that our partnership will deliver returns for consumers well into the future. At our core is a desire to share in our API capabilities to improve outcomes for as many people as possible, and this is demonstrated by the breadth and variety of our partners."

Chief executive officer at Marygold & Co. UK, Matthew Parden, added: "Our partnership with Moneyhub underscores our commitment to delivering a truly transformative financial management experience. By leveraging Moneyhub’s advanced Account Information and Payment Initiation services, we’re able to offer our users unparalleled insights and control over their finances, making it easier than ever to save, manage, and grow their wealth securely and efficiently."

---