Bristol based Moneyhub partners with financial health pioneer Otto

By Nicky Godding

10 November 2021

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Moneyhub, the market-leading Open Finance data, intelligence and payments platform, is partnering with financial health pioneer Otto to enable next-generation employee wellbeing benefits.

Thanks to Bristol based Moneyhub’s Open Finance connections to the largest number of financial services providers, as well as its smart analytics, users of Otto’s financial dashboard can now see the full scope of their finances, enabling deep insights that lead to greater financial health. And with every Otto user receiving support from a financial coach, data-powered insights create a virtuous circle fostering greater financial optimisation.

Otto’s platform, which is available via employee benefits schemes, is designed to solve one of the biggest mental health burdens on UK employees: financial stress. More than 60 per cent of employees cited ‘financial worries’ as their number one source of stress, according to a recent survey

By creating a complete picture of users’ financial situation, from investments, pensions and loans to mortgages, bank accounts and properties, rather than operating in silos, Otto can empower users to develop a financial roadmap and plan for their futures.

Otto turned to Moneyhub for its Open Finance expertise and leadership. Once users sign up to the Otto platform they’ll be asked if they want to connect their accounts, whether that be an investment account or a pension, with Moneyhub’s technology enabling the connections.

The two companies are natural partners: Moneyhub’s mission to provide its clients a holistic perspective of their finances to enable financial wellbeing compliments Otto’s ambition to promote financial health and democratize access to financial health

Sam Seaton, CEO at Moneyhub said: “Open Finance empowers consumers to have full autonomy over their finances and it enables innovative enterprises like Otto to provide innovative and impactful financial services to their customers. Given our shared drive of improving financial health through smart technology, partnering with Otto has been a pleasure.”

Jan Thomas, CEO at Otto said: “Financial health, as well as the peace of mind that comes from knowing your finances are in good shape, should not be the exclusive benefit of the most well off in society: financial health needs to be democratised and it shouldn’t require a minimum balance, which is why we set up Otto to provide next-level financial wellbeing services. That’s also why we have chosen to partner with Moneyhub, which in addition to being a market-leader in Open Finance, is also a champion for financial health.”

By Nicky Godding

Nicky Godding is editor of The Business Magazine. Before her journalism career, she worked mainly in public relations moving into writing when she was invited to launch Retail Watch, a publication covering retail and real estate across Europe.

After some years of constant travelling, she tucked away her passport and concentrated on business writing, co-founding a successful regional business magazine. She has interviewed some of the UK’s most successful entrepreneurs who have built multi-million-pound businesses and reported on many science and technology firsts.

She reports on the region’s thriving business economy from start-ups, family businesses and multi-million-pound corporations, to the professionals that support their growth and the institutions that educate the next generation of business leaders.