Money management app Emma has become the first startup to get onboard with Monzo's recently launched interim API for customer account data sharing.
The tie-up to challenger bank Monzo comes just a week after Emma received Open Banking approval from the FCA and a month after undertaking an initial closed beta programme. The app helps consumers avoid overdrafts, find and cancel subscriptions and track debt with the aim of saving money.
Monzo made its interim API accessible to newly-registered Account Information Service providers just last week. The bank has lined up provisional integration programmes with other digital money management tools such as Yolt, Plum and Chip.
The app-only bank is set to redouble its efforts to launch a full-scale Open Banking hub after putting its API programme on ice last year to prepare for the lunch of its current account offering.
Tom Blomfield, CEO and co-founder, Monzo, say: “Making an API available opens up loads of new opportunities, for fintech companies like Emma, and for our customers. Our goal at Monzo is to give our customers more visibility and control over their money. Through our API, integrations like this become possible, meaning our customers can choose to access useful new services to help them manage their money.”