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Akoni integrates with Moneyhub API for open banking push

Source: Akoni

Akoni, a cash marketplace and cash management platform, which helps users and businesses to earn up to 10x more interest on their cash, has appointed market-leading Open Finance data, intelligence and payments platform Moneyhub to propel its cash management offering.

Akoni is using Moneyhub’s Intelligence & Data API, the most comprehensive in the market, to securely access consent driven financial data. Users can connect multiple banking accounts in the platform and preview their balance and transactions on these accounts through Moneyhub. This holistic view of their or their client’s finances enables better financial decisions and cash management. 

Moneyhub’s actionable insight Nudges make decisions even easier. Nudges are alerts which prompt the user when savings can be made once Akoni has compared interest rates and returns of savings products across the market. Using this type of data and insight means that Akoni’s platform can facilitate returns of up to 10x more interest on a business’ cash within the firm’s risk requirements. 

Businesses can use the platform directly with AkoniHub while wealth managers, investment platforms, advisers and other partners can provide savings solutions and cash tools to their clients through the white-labelled platform.  

Utilising Moneyhub’s Open Finance APIs and Insight Nudges also allows Akoni to provide a smoother and more engaging user experience, creating deeper and more robust customer relationships. 

Moneyhub’s secure platform is built to consume and provide APIs. Coupled with the team’s in-depth knowledge of Open Banking, it provides a seamless solution for compliance with regulatory standards and is the only comprehensive Open Finance data aggregation in the market bringing together pensions, loans, investments, mortgages, savings, property and of course bank accounts. Moneyhub also initiates account to account payments and supports banks to become fully PSD2 compliant in less than 30 days.

Felicia Meyerowitz Singh, Co-Founder and CEO at Akoni comments: “Our connection with Moneyhub allows the Akoni marketplace to be instantly accessible and democratises finances for users.

This collaboration is another step in innovation within the financial sector, challenging the status quo and producing solutions designed with the client in mind.”

Samantha Seaton, CEO at Moneyhub comments: “Open Finance has the power to transform the way that both individuals and businesses manage their money. Using Moneyhub’s Open Finance APIs allows Akoni to get to market quicker and more efficiently.  We’re thrilled to be working with Akoni,  enabling them to create better experiences for their clients.

Through our partnerships we continue to empower businesses and individuals, offering more choices and control as to the way we manage our money.”

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