Emma is a banking app that helps consumers manage their finances better. It keeps users informed about approaching overdraft, tracks debt and manages subscriptions. The aim is to help clients improve their “financial well being”.
Emma also revealed it will be integrating challenger banks including Revolut and Monzo into its interface.
The FCA approval will enable Emma to take advantage of the recent Payment Services Directive (PSD2) that will force banks to allow third party providers to access their clients’ accounts. The purpose of Open Banking is to promote innovation and financial services for consumers.
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