Monzo Bank, the UK challenger bank, has been a key player in the fintech space and encouraged wide adoption of Open Banking from Gen Z and Millennials. It recognised consumers’ desire for an intuitive, digital solution that enables them to manage all of their finances in one place - offering account aggregation, categorisation, and credit scoring through their Monzo Plus solution. After its plans to move into the pensions market went public in 2023, Monzo has announced it will be launching a new pension consolidation solution that finds users’ pension pots and brings them into one fund, accessible through the Monzo app. The announcement comes as Monzo’s research revealed that 51% of UK adults don’t know how much they have saved for retirement. It asked 2,000 people what would make engaging with their pension easier, and 38 per cent said a process that felt more accessible to manage alongside their everyday finances. What can we learn about the future of pensions from Monzo Bank? Read our post to find out ⬇ https://lnkd.in/esg9UKtv
Moneyhub
Software Development
Bristol, England 11,155 followers
Open Data. Open Possibilities.
About us
We’re a group of developers, financial experts, and optimists who share a vision for improving the financial wellness of people, their businesses, and their communities.
- Website
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https://www.moneyhub.com
External link for Moneyhub
- Industry
- Software Development
- Company size
- 51-200 employees
- Headquarters
- Bristol, England
- Type
- Public Company
- Founded
- 2014
- Specialties
- Fintech, Banking, Pensions, IFAs, Personal Finance Management Tools, Financial Services, Big Data, Customer Engagement, Open Data, Open Finance, Open Banking, and Payments
Locations
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Primary
Get directions
101 Victoria Street
Bristol, England BS1 6PU, GB
Employees at Moneyhub
Updates
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🎉 We’re thrilled to be part of the Centre for Finance, Innovation and Technology (CFIT)-led SME Finance Taskforce, supported by Open Banking, and excited to share their latest report focusing on how Smart Data and secure data sharing can empower UK SMEs to thrive! Read the full report below ⬇️
We are excited to announce the launch of the CFIT-chaired SME Finance Taskforce report: ‘Smart Data: improving SME lending to drive economic growth’. Following the recent announcement of the Digital Information and Smart Data Bill by The Labour Party Government, the report offers actionable solutions to overcome the lack of access to crucial data, which hinders SMEs from securing the finance that will allow them to scale. Here are our seven key recommendations: 📜 Prioritise the Digital Information and Smart Data Bill. 🧩 Fund and support an SME “Smart Data Challenge”. 💡 Revamp HM Treasury’s Bank Referral and Commercial Credit Data Sharing (CCDS) Schemes. 🚅 Fast-track reform of Companies House, in particular, the standardisation and verification of Company information. 🗝️ Unlock private-sector data by utilising digital receipts from HM Revenue & Customs and improved access to tax data for approved organisations. 📩 Develop and consult on an e-invoicing scheme for the UK to align with international markets. 🏛️ Boost trust in using new alternative specialist lenders. As SMEs make up 60% of the private-sector workforce, enabling them to access the finance they need is essential for the economic growth of the UK. With a significant shift towards challenger banks and alternative lenders, these recommendations are more important than ever as UK SMEs face a growing funding gap. We are very grateful to all our partners, including iwoca, Sage, OakNorth, Allica Bank, Experian, HSBC, Lloyds Banking Group, Mastercard, Federation of Small Businesses (FSB) and Revolut, for their invaluable contributions to the report. We would also like to thank the Open Banking secretariat, who has been a vital part of this coalition. Read the full report and join the discussion: https://lnkd.in/ekvN9mpS #UKFintech #SmartData #SMEGrowth #SMEFinance
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Catch up on our webinar on the Advice Guidance Boundary Review ⏯ Vaughan Jenkins was joined by Lavanya Menon (Lloyds Banking Group) and Adam Price (Octopus Money) for a review on the proposals that seek to close the UK advice gap and help consumers make more informed decisions about their money. What are the pros and cons of the paper? Where could, and should, the FCA go further? Watch the replay ➡️ https://lnkd.in/e_q-7mus
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Moneyhub reposted this
Four UK banks failing to comply with Consumer Duty underscores the harsh penalties faced by firms. With the next phase taking effect tomorrow, what proactive steps can your company take to avoid joining the club that no one wants to be in? Moneyhub has been leading the Consumer Duty discussion from the very beginning and continues to do so. We're pulling from the OBE Archives: Our Consumer Duty Campfires 🔥The Countdown to Consumer Duty: https://lnkd.in/eUFiYeX4 🔥The New Consumer Duty: A Milestone for Open Finance? https://lnkd.in/eupAs8rE Read more from on the latest Consumer Duty news: 📰 Vaughan Jenkins, @Moneyhub in FT Adviser: 'Data confident firms will set the consumer duty bar' https://lnkd.in/ejY5GEJx 📰 Thomas Bleach, The Fintech Times: Four UK Banks Fall Foul of CMA Rules: Would Tougher Punishments Improve Customer Outcomes? https://lnkd.in/ef5SKwjT Samantha Seaton Dan Scholey, Suzanne Homewood Ingrid Anusic Kirsten Ward ✯ Helen Child ✯ Finacial Conduct Authority #ConsumerDuty #FinancialServicesRegulation #FinancialServices
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📺 Tune in to The Fintech Power 50’s latest webinar to see our API Partnership Director Jon Hart, chat with Polly Jean Harrison from The Fintech Times and David Beer, global head of enterprise solutions & partnerships at Cogo, about the real meaning behind “doing good” in fintech today and its potential for the future…
Is fintech really good? In this webinar we explore what "doing good" actually means, and understand how fintech is making a difference https://hubs.li/Q02JlC9r0. Moderator Polly Jean Harrison from The Fintech Times is joined by David Beer, global head of enterprise solutions & partnerships at Cogo, and Jon Hart, API partnerships director at Moneyhub. Together, they examine the landscape as they see it, and reveal the potential fintech has to do good. Watch the webinar in full to discover more about "Fintech for Good" and what to expect as we move forward into the future of the industry https://hubs.li/Q02JlC9r0. #thefintechpower50 #fintech #fintechforgood #paymentsindustry #financialservices
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🚀 We’re excited to see Loqbox utilising our Open Banking technology in its innovative rental reporting feature, empowering renters to build their credit scores! 🏡 Here are just a few of the impressive results taken from our latest case study: - Moneyhub and Loqbox have helped over 40,000 members with Loqbox Rent. - 9/10 Loqbox members recognise that taking charge of their finances has positively impacted other areas of their lives. - 63% of members mention reduced stress and 50% of members reference their mental health as an improved area. 🔗 Learn more: https://buff.ly/3xY7uxy #EmpoweringRenters #OpenBanking #FinancialWellbeing
Read the case study ➡️
moneyhub.com
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Our July update is here! This month we're looking at: - Consumer Duty one year on - still a work in progress as fines imposed 📆 - Increasing credit scores and financial inclusivity with Loqbox 🎯 - What is a Payment Initiation Service? 💸 - Open Banking Affordability in Originations and Collections ✅ #OpenBanking #OpenFinance #FinancialWellness #FinancialWellbeing #FinancialInclusion #FinTech
Consumer Duty: A work in progress, financial inclusivity with Loqbox & more...
Moneyhub on LinkedIn
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Our CEO Samantha Seaton recently sat down Lydia Coyle and Paniz Mojahedi, MBA from Woodhurst to talk all about her journey into fintech, and how we're proud to be steering the future of Open Finance here at Moneyhub. They discuss the power of data and opportunities open to businesses and consumers that embrace it, as well as what can be done across industry and by regulators to spur innovation and better financial outcomes for all. Give it a listen on: 🎧 YouTube: https://lnkd.in/en5drtn2 🎧 Spotify: https://lnkd.in/eBHaEYyd 🎧 Apple Podcasts: https://lnkd.in/eyKsx2YP #FintechDiaries #Podcast #OpenFinance #FinancialWellness #Innovation #SustainableFinance
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10 million monthly active Open Banking users! 🎉
Wow, what an incredible milestone we have just hit. 10 million monthly active Open Banking users in the UK. If that’s not an emphatic answer to the question “do people really want to use Open Banking?” There is no denying that Open Banking is going to be a cornerstone of how people manage their finances for years to come. Marion King #openbanking
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We were thrilled to see confirmation that the new Government will introduce a Digital Information and Smart Data Bill as laid out in the King's Speech last week. Consent driven data exchange facilitates improved consumer experiences, and huge innovation opportunities for businesses and the UK has an opportunity to be world leading in opening up these avenues. We've seen how regulation spurred Open Banking forward and are excited to embrace what the Smart Data Bill presents https://lnkd.in/dNZ3ruqj
Labour introduces Smart Data Bill in King’s Speech | Open Banking Expo
openbankingexpo.com