Following this announcement, Moneyhub’s Open Banking-enabled API technology will power Money Squirrel’s platform, as well as enable businesses to make the most of their money by automating the saving of future VAT payments into interest accounts.
In addition, both Moneyhub and Money Squirrel will continue to focus on meeting the needs, preferences, and demands of clients and customers in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
At the moment, SMEs stand to gain significantly from adopting Open Banking technology, and Money Squirrel’s application will continue to provide Open Banking data combined with payments in order to accelerate the development of SMEs in the industry.
The collaboration between Moneyhub with Money Squirrel represents a significant step in making Open Banking technology accessible to both small and medium-sized enterprises (SMEs) and larger institutions. Moneyhub will focus on optimising the process of simplifying financial management and unlocking growth opportunities for smaller businesses by powering Money Squirrel's app with its API. At the same time, this partnership highlights the commitment to driving financial inclusivity and development across the board.
Money Squirrel represents the second venture to be inducted into the SHIFT Open Finance Community’s dedicated fintech incubator programme, ‘Ignite', which was developed in order to provide a combination of financial support, expert guidance, and industry networking opportunities.
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