Personal finance app Money Dashboard has partnered with Starling Bank, making full use of the open banking initiative which launched at the start of the year.
The decision for the partnership was reinforced by strong demand of the users of both companies that wished for them to partner and integrate services.
Through the deal, Money Dashboard users will be able to add their Starling account details and receive a real-time view of their transactions, and saving goals. User will also be able to use a planning tool to see a forecast of savings and when they are likely to meet their set goal.
Money Dashboard offers users one place to manage their online financial accounts, with daily updates on transactions and balances. The app has bank-level security and gives an easy way to check what a user is spending money on with an option to categorise transactions.
The app also provides the user with information outlining their monthly incoming and outgoing finances, empowering users to see where their money is going. A user can establish savings goals, which the app can track and suggest how much a user can spend each month and improved ways of budgeting.
Launched in 2010, the UK-based personal finance app us used by over 150,000 users and supports over 60 different bank providers.
Money Dashboard head of growth Jossie Ellis said, “As we continue to evolve towards the increased digitisation that comes with Open Banking, our integration with Starling just makes sense. It improves user experience, allows an ever-increasing proportion of the population to utilise the app to its full potential and will see more people than ever before meet their savings goals.
“This is just the first step in many digital banking integrations that will help future-proof Money Dashboard at what is a really exciting time for banking as Open Banking continues to disrupt the market.”
Last year, the company raised £1.3m in a crowdfunding campaign following contributions from 1,707 investors.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
