Emma and Chip forge Open Banking partnership

Source: Emma

Open Banking apps Emma and Chip have partnered up to allow customers to track their automatic savings and savings goals within Emma’s dashboard.

Both Emma and Chip offer customers a unique experience by leveraging Open Banking. With hundreds of thousands of people in the UK now connecting to the apps and using them on a daily basis, FinTech collaborations like this could bring some real disruption to the UK’s consumer finance market.

Edoardo Moreni, Emma CEO said:

“Emma was built to empower millions of individuals to live a better and more fulfilling financial life. Chip is the next emerging FinTech and we are thrilled to welcome them as an integration.

“Our users can now manage and track their Chip savings alongside more traditional finances to make wiser and more transparent decisions.”

Open Banking regulation launched in January 2018, and a year on momentum is building within the UK consumer market.

Emma gives customers a simple and clear dashboard to easily analyse their money and spending habits. By analysing customers spending patterns, Emma also offers a host of useful features, like the ability to predict when users are about to hit their overdraft.

If Emma gives customers oversight of their finances, Chip optimises and automates them.

By connecting Chip to your current account, Chip analyses your spending behaviour and automatically saves money, without you feeling it. Chip’s AI-powered algorithm intelligently analyses your life to make the decisions you should make, automatically.

Chip customers are now saving £7million every month and last year the business carried out the largest crowdfund in UK history.

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