Moneyhub, a financial management platform, has received payment initiation services provider (PISP) authorization from the UK’s Financial Conduct Authority (FCA).
Image: The FCA building. Photo: courtesy of FCA.
The FCA authorisation will enable seamless payment, in addition to visibility of all financial transactions across accounts in one place. It is advancement to the account information services provider (AISP) status.
Moneyhub has also launched API gateway, alongside providing access to payments, income, expenditure, investments, pensions and savings.
API gateway will serve as one stop shop for personalized, permission based and financial data sources. It will also provide businesses’ own development teams access to the data streams to help offer customer centric solutions.
It will also assist companies through providing advanced data sources to better meet business model and customer requirements.
Moneyhub API gateway is said to provide traditional per account model, as well as per user model.
The per user model will allow to simplify the integration of individuals with multiple accounts.
Moneyhub CEO Samantha Seaton said: “The introduction of Open Banking has been transformative for people’s relationships with their finances but its potential is only just being realised.
“We are delighted that as one of the first regulated providers of Open Banking technologies, we have been at the forefront of developing payment capabilities and have now secured FCA approval as a Payment Initiation Services Provider.”
“The end of tedious financial administration on the journey to ever increasing financial wellbeing starts here. We’re delighted to also launch our API gateway, which has the most comprehensive data sources.”
Moneyhub has worked with the Open Banking Implementation Entity to determine the standard for UK Banking APIs.
It also plays a significant role in the European Parliament’s PSD2 workshops to deliver secure payment solutions across the EU.
Moneyhub also offers Connect tool, which enables professionals secure, real-time and two-way data sharing. The businesses can deploy this platform either as a white labelled solution or integrate via API.
Moneyhub is a financial management platform, which consolidates data from every source into one place to help people see and engage with all of their finances ranging from current accounts to credit cards, loans and pensions.