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Moneyfarm and Fabrick to offer integrated open banking solution

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July 31, 2020

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European digital wealth manager, Moneyfarm partnered with Italian open banking platform Fabrick today for offering a joint solution for customers across the UK and Italy. The partnership will enable Moneyfarm to publish its APIs on Fabrick’s platform, thus allowing banks and intermediaries to integrate the latter’s service into their offering.

Giovanni Daprà, Co-founder and CEO of Moneyfarm, commented, “Our model combines technology, convenience, and personalised portfolio management – something our customers have particularly looked to and relied on during recent turbulent months. With Fabrick, we can respond to the need for traditional financial operators to offer increasingly digital and advanced solutions to their customers. Fabrick is always at the forefront of advancing digital business models – we believe they are the ideal and most effective partner to embark on this journey.”

The integration is expected to enable banks to use it to understand customers’ digital needs and behaviors better. The collaboration with Fabrick strengthens Moneyfarm’s B2B2C offering, thus allowing it to make digital wealth management services accessible to a broad range of possible audiences and establish its position in Europe.

Paolo Zaccardi, Co-founder and CEO of Fabrick, commented, “The agreement sees an important collaboration between banks and fintechs and the co-creation of highly personalised digital projects for the benefit of the end customer. Fabrick’s solutions are capable of meeting the evolved needs of end consumers who increasingly expect digital and personalised services from their bank. We are confident that the presence of Moneyfarm on our platform will add significant value and further facilitate the spread of an “open” culture and awareness of the importance of tailored banking and investment services.”

ALSO, READ: Open Banking Roadmap for Mid-sized banks in Europe by IBS Intelligence 

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