Data and payments platform Moneyhub has entered into a partnership with financial planning and wealth management solution provider Voyant.
The partnership will see Moneyhub provide advisers who use Voyant’s platform with instant and real-time access to clients’ comprehensive financial information.
Through the collaboration, Voyant will make use of Moneyhub’s open banking and open finance application programming interfaces (APIs) across its adviser systems.
According to Moneyhub, the secure and GDPR-compliant data-sharing will enable advisers to accelerate the fact-finding process with insight into the client’s current assets and analysis of their income and expenditure in real-time.
The data and payments platform’s financial analytics and algorithms offer advisers access to more granular information, which will allow the delivery of a more proactive and customised service to their clients.
Voyant intends to use real-time data across the customer’s financial universe from bank accounts, investments, pensions, credit cards, loans mortgages, individual savings accounts (ISAs), and other financial products. This is expected to enable more accurate automatic modelling.
The partnership between the parties is aimed at saving time and reducing the overheads of firms while onboarding and servicing clients.
Moneyhub, API managing director Kim Jenkins said: “We’re excited to be working with Voyant to roll out our Open Banking and Open Finance connections to help improve efficiency, meet regulatory obligations and drive better consumer outcomes in the adviser space.
“At Moneyhub we are dedicated to improving consumers’ lifetime financial wellness and we are delighted to be working with Voyant to support their adviser community to do just that.”
Last week, Moneyhub partnered with open finance solutions provider MX Technologies for driving the global adoption of open finance.
