The new sweeping feature is a response to client demand and public awareness of Open Finance, with a survey from The Investing and Saving Alliance reporting that 91% of participants were interested in using an Open Banking app.
Wealth managers, pension providers and other financial services clients of Moneyhub can use these 'Challenges' and 'Sweeping' tools to enable their customers to move, or 'sweep,' money between their accounts. Moneyhub allows sweeping into any account that has an account number and sort code or an IBAN number.
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