Moneyhub

M is for Mobile 📱 Open Banking payments offer exceptional convenience: anyone with a mobile banking app can make a payment, without the need for a credit or debit card. In our recent consumer research we found that: – 56% of people access their bank account via Mobile Banking app – 53% of people pay their friends manually via their Banking app – 36% of 18–24 year-olds pay with their phones when buying something in person Businesses offering Open Banking payments can capitalise on consumer readiness to use their mobile phones, enabling quick and secure transactions on the go. You can reduce transaction costs, boost purchase completion, and reach more customers, ultimately increasing your revenue. Discover your options: https://buff.ly/401lemJ #OpenBankingPaymentsAZ #openbanking #payments #PaybyBank #immediatepayments #mobilepayments #bankingapps

It's almost Christmas, and for many people in the UK, that means facing the pressures of extra spending 💰 Last year, 14 million people used Buy Now Pay Later (BNPL) credit at least once in the six months leading up to January 2024. BNPL is so attractive to so many, because it’s so convenient. In October 2024, the UK government published a consultation setting out its plans for regulating the BNPL market. These plans “aim to ensure people using BNPL products receive clear information, avoid unaffordable borrowing, and have strong rights when issues arise.” Key changes include requiring BNPL providers to give clear and accessible information about the risks involved, as well as running affordability checks on borrowers. BNPL customers would also be covered by Section 75 protection on purchased, and able to take complaints to the Ombudsman. However, these changes likely won’t come into effect until 2026. Unregulated credit is now just a few taps away, enticingly positioned at the checkouts of e-commerce sites; the logos are bright, the branding is aspirational. Debt has never looked so appealing. Consumers can now take on instant debt for a takeaway, clothing or cleaning supplies. Unfortunately, it’s people that may need credit for household goods who are often the most economically vulnerable. As history has shown, when the risks of some financial products are poorly communicated, those products can leave those in dire need of support even worse off. It's time to make financial wellness solutions just as convenient and accessible as BNPL. Read the full post ➡️ https://lnkd.in/eDkYeG97 #OpenFinance #OpenBanking #FinancialWellness #BNPL

🚀 We're delighted to announce our partnership with Marygold & Co UK, Britain’s most emotionally intelligent money management app for individuals and small businesses, to enhance their app capabilities. Marygold’s app, which is due to launch early in 2025, streamlines customers’ ability to save without needing to switch banking accounts, and is founded with a commitment to radically simplifying the management of finances. We're set to add to the app's capabilities by providing Account Information (AIS) and Payment Initiation (PIS) services. We can't wait to see the positive impact this partnership will have. Stay tuned for more updates! 📈 Read the full announcement here: https://buff.ly/49pKnKo

L is for Link, specifically Pay by Link ✅ QR code ✅ Text ✅ WhatsApp message ✅ Email ✅ Web button You can share a 'link to pay' in so many forms. It’s a convenient way for customers to make a payment to your business. Plus, the cost benefits really stack up: – No need for expensive payment terminals and their associated maintenance bills. – No costly PCI DSS compliance required. – Lower transaction fees than card payments. What could your business do with the money saved? It’s easy to implement Pay by Link – our team can help or use our widget to get started straight away. https://buff.ly/4fGmeRJ #OpenBankingPaymentsAZ #openbanking #payments #PaybyLink #PaybyBank #immediatepayments #A2Apayments #account2account

We're thrilled that WPS Advisory Limited have partnered with us to launch LifeStage 🤩 As employee financial wellbeing rapidly moves up HR agendas, LifeStage helps employees visualise their money today, tomorrow and into the future with ease. Drawing on a range of Moneyhub’s our features, the app enables users to understand their assets and liabilities like income, expenditure, savings, debts, pensions and properties at a glance. We have also integrated the platform with three separate partners: - Guiide is a pension modelling tool that enables LifeStage users to create and maintain a personalised retirement plan.  - Legado (joinlegado.com)’s secure Digital Vault has been added to LifeStage to allow users and WPS Advisory to upload, store and manage important documents within the app, and notify the other party.  - SmartSearch enables individual anti-money laundering checks to be completed in seconds, and helps WPS Advisory Limited comply with the latest Customer Due Diligence and Know Your Customer (KYC) obligations. LifeStage users are able to share their data with WPS Advisory via Moneyhub’s Sharing Centre feature, so it can ensure IFAs are always advising based on an accurate picture of a users’ financial situation.   From within the Sharing Centre, advisors can see the accounts their assigned users have chosen to share with them, a summary of net worth, assets and account types, income and spending analysis, broken down annually. This empowers the advisors with unprecedented capability to access detailed account, transaction, and income/spending data for their end users. Natalie Oliver Head of Strategy at WPS Advisory Limited comments: “Partnering with Moneyhub has given us an exceptional opportunity to continue delivering a high-quality service to our customers while maintaining value for money." "Our aim is to make financial advice, typically provided through the workplace, as accessible and cost-effective as possible. Technology integrations play a vital role in achieving this goal." "Through our LifeStage proposition, we are committed to building financial confidence in our customers, empowering them to manage their money today, tomorrow, and in the future. This partnership with Moneyhub, along with our broader integrations, is crucial to reaching these objectives." Read the full announcement https://lnkd.in/eFhK4V5p

In our recent consumer study, we have found that younger generations are more likely to have been victims of financial fraud than older generations. 🤯 We surveyed over 2000 people and of those who have been victims of financial fraud, the most common type was credit card detail theft, affecting 30% of people. 💳 This really highlights the need for more secure payment processes such as Open Banking payments which lean on the biometric security of banking apps and enable payments without a physical, or digital card. 🔒 https://lnkd.in/e7HfNxtV #openbankingpayments #openbanking #paybybank #financiafraud #financialwellbeing

Our November update is here! Check it out for a look at: - The latest insights and trends in festive retail credit usage in our new - Christmas Retail Credit Report 🎄 - Bridging the advice gap with WPS Advisory Limited 🌉 - Our new research into payment pain points for consumers 💳 - Webinar replay: The future of customer experience in banking and how to get there 🎯 #OpenBanking #OpenFinance #FinTech #FinancialInclusion #FinancialWellness #FinancialWellbeing

A fantastic day at the TISA UK Annual Conference today, full of insight from industry experts on financial resilience, vulnerability, inclusion and engagement 🤩 Highlights include, of course, our very own Samantha Seaton's panel session with Ben Leonard, Eden Scrivenger, Jonathan Warren and Larry Banda MBA on driving innovation in financial services to create inclusive and impactful customer experiences. And then, the Financial Conduct Authority's Sarah Pritchard took to the stage to discuss the Government's proposals to develop a National Financial Inclusion Strategy and the role of innovation and technology in improving financial capability and inclusion. Sarah covered workplace saving schemes, Consumer Duty and the Advice Guidance Boundary Review, all of which underpin the efforts to better the financial lives of millions of Brits. And, all of which can be implemented effectively and at scale by widespread adoption of Open Finance. Financial wellness tools, unparalleled data insights for providers, enhanced affordability, suitability and vulnerability checking and optimised, customer-centric digital product journeys are just a few notable examples of where technology and regulation can work in tandem to improve customer and business outcomes. As Sarah closed her keynote, she challenged the audience with two questions: "Are your products meeting the needs of your customers today and preparing them for tomorrow?" "And what more could you do to empower your customers to build strong financial foundations?" The kind of data insights necessary to recognise and meet customers’ needs – and to keep meeting customers’ needs over their lifetime – can only be derived from understanding a customer’s full financial position. Without Open Finance, this is virtually impossible.

🗣️ Panel discussion: Leveraging innovation for enhanced customer engagement Hear from leaders driving innovation in financial services to create inclusive and impactful customer experiences: • Ben Leonard, CEO & Co-Founder, Life Moments • Eden Scrivenger, CTO, Wealthtime • Samantha Seaton, CEO, Moneyhub • Jonathan Warren, Head of Innovation, Altus Consulting • Larry Banda MBA, Deputy Chairman, TISA and CEO, TISA Commercial Enterprises #TISACONF2024

Catch up on our webinar on the Advice Guidance Boundary Review ▶️ https://lnkd.in/e_q-7mus 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