Lumio and Moneyhub partner to boost financial management for customers

Source: IBS Intelligence 2020-06-08

London-based p

ersonal finance solutions provider Lumio has entered into a partnership with Open Finance platform Moneyhub in a bid to boost financial management for customers by bringing their bank, savings, pensions and investments, in one place. Lumio will leverage Moneyhub’s full suite of Data APIs for providing users with a range of accounts on the market.

Charlie Richardson, Co-founder and CEO at Lumio, commented, “The breadth of Moneyhub’s comprehensive financial data source and expertise made them the obvious choice. We didn’t just want to offer our users access to their banking data but provide a holistic view of their financial situation so they could make informed decisions and secure better outcomes by using our app. And with Moneyhub we are able to offer our users this and more! Working with the Moneyhub team has been a truly collaborative experience. Tapping into their expertise and working directly with their development team enabled us to build out the proposition which suited our specific needs.”

According to the companies, Moneyhub’s data security and coverage capabilities are expected to enable Lumio’s customers to manage their financial future better. Moneyhub’s spending analysis and data categorisation engine will provide the latter with a setup to offer customers easy control of their finances.

Established in 2017, Lumio empowers customers to connect their accounts in one place, de-clutter the marketplace and begin growing their money in a meaningful manner. The company works across all possible avenues of personal finance and provides guidance on current, savings and investment accounts.

Dan Scholey, COO at Moneyhub commented, “Improving financial literacy and wellbeing is a goal close to our hearts at Moneyhub and we welcomed the opportunity to work with a forward-thinking team like Lumio. Open Finance is here now. It empowers users of apps like Lumio to see their financial past, present and future while enabling businesses to interact with these insights, supporting customers with information and products that suit their unique financial requirements. This is an important starting point to making better financial decisions that don’t just focus on the day to day but on the long-term too. Lumio makes these decisions easier for its users and will be a great companion on their financial journey.”

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Lumio and Moneyhub partner to boost financial management for customers

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