Akoni appoints Moneyhub to boost cash management offering

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London-based cash marketplace and cash management platform Akoni has selected Open Finance data, intelligence and payments platform Moneyhub in a bid to boost its cash management offering. Akoni is leveraging Moneyhub’s Intelligence & Data API for accessing consent driven financial data, allowing users to connect multiple banking accounts in the platform as well as preview their balance and transaction through Moneyhub.

Felicia Meyerowitz Singh, Co-Founder and CEO at Akoni, commented, “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.”

Moneyhub’s actionable insight tool Nudges offers alerts that prompt the user when savings can be made. Akoni’s platform, using this, can facilitate returns of up to 10 times more interest on a business’ cash within the firm’s risk requirements. AkoniHub can be used by businesses directly while wealth managers, investment platforms, advisers and other partners can provide savings solutions and cash tools to their clients through the white-labelled platform.

Samantha Seaton, CEO at Moneyhub, commented, “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.”

Akoni will also leverage Moneyhub’s Open Finance APIs and Insight Nudges to gain a smoother user experience and boost customer relationships.

Recently, Moneyhub launched its new suite of FinTechs. The company stated that customers using its APIs would be able to switch on the new features in a bid to allow them to get to market faster. Clients who have white-labelled the company’s personal financial management platform can use these new features for boosting existing propositions.