Moneyhub adds Open Banking connections with three UK banks

UK-based data and payments platform Moneyhub has added Kroo Bank, Co-op Bank and Smile Bank Open Banking connections, becoming the first third party provider to do so.

Moneyhub’s chief commercial officer Dan Scholey said its users had been “increasingly asking” for connections to the three banks.

“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 partner’s platforms,” he added.

“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.”

More than 150 million people in the UK have access to Moneyhub’s technology through its partners, including Aon, Standard Life and SEI Investments, or directly through the personal finance app on the Apple Store or Google Play.

The Co-op Bank provides a range of banking products and services to approximately 2.7 million retail customers in the UK, and also serves businesses with loans, credit cards and deposit products.

Smile Bank is a trading division of the Co-op Bank and was the first and “original” digital bank in the UK to offer full-service current accounts, savings accounts, ISAs, investments and credit cards.

Since its inception in December 2022, digital bank Kroo Bank has begun offering its customers a current account, an overdraft, deposit protection up to £85,000 and zero fees on spending abroad.

Moneyhub took home two Open Banking Expo 2023 Awards at a ceremony in London on 19 October.

The Open Finance and Open Data platform won in the Best App and Best Open Finance Application categories, respectively.