Virgin Money teams up with Mastercard to support account aggregation

By introducing this personal finance solution, supported by Mastercard’s Open Banking technology, Virgin Money customers are set to be able to optimise how they manage their finances, allowing them to do so in a single place. The move highlights the bank’s commitment to offering digital tools that meet the needs, demands, and preferences of its retail and business customers across the UK.

Moreover, the collaboration merges Virgin Money’s customer-focused approach with Mastercard’s global technology knowledge in Open Banking to augment how customers interact with the bank and manage their financial situations. Commenting on the news, representatives from Virgin Money underlined that the initiative centres on simplifying how credit card customers access information about their non-Virgin Money credit cards and current accounts through the bank’s app. Additionally, Open Banking poses significant opportunities for individuals to optimise how they manage their finances and, by working with Mastercard, the financial institution aims to further advance this feature for customers who interact with it monthly.

At the same time, Mastercard mentioned that the partnership showcases the capabilities of Open Banking, as well as its ability to develop connected, user-friendly, and embedded financial services that can support individuals with their finances.
 

Virgin Money becomes part of Nationwide

Back in October 2024, Nationwide finalised the acquisition of Virgin Money, with the deal aiming to assist the former in augmenting its offering. Completing the move sought to allow Nationwide to deliver increased value to its customers while also optimising user satisfaction and providing competitive savings and lending rates.

Now, Virgin Money centres its efforts on offering a range of products, including current accounts, credit cards, savings, investments, mortgages, pensions, and loans, among others. Its services are provided through several channels, from digital to branches, contact centres, and relationship managers. Also, through the Virgin Money Foundation and by partnering with other industry participants, the bank delivers change in society as part of its progressive sustainability and ESG agenda.