Following this announcement, the fintech providers Rebcat Technology, Moneyhub, and Navos Technologies will focus on the development and implementation of optimised technology solutions, which aim to enable large financial institutions to offer personalised financial support, advice, and guidance to their customers. In addition, the new solutions will provide a much-needed advice lifeline for multiple clients that fall into the advice gap space.
Moneyhub represents a data, intelligence, and payment company that develops ISO 27001-certified software for Open Banking, Open Data, and Open Finance applications. The company will provide its FCA-regulated Open Data platform in order to enable firms to quickly, easily, and securely transform data into a personalised digital experience, while also initiating payments in a safe and efficient manner. Navos is a specialist technology solutions provider that enables organisations that operate in and around the financial services sector to navigate the challenges of the industry.
Rebcat will provide its tested technology in order for the early solutions to be focused on bridging the advice gap that is suffered by multiple individuals across the region of the UK. At the same time, it will also incorporate essential financial management, investment, mortgages, and protection tools. The institutions will also prioritise the process of remaining compliant with the regulatory requirements and laws of the local market. The partnership is also expected to develop positive outcomes for both firms and users while driving efficiencies and increasing engagement at the same time.
According to the press release, as the FCA took Consumer Duty and subsequent actions, consultations, and statements, real clients were put at the center of its future plans. This process was set to provide multiple difficulties for organisations, especially enterprises that have a large legacy client base, but it also was expected to offer multiple opportunities for those that can spot the challenges and are willing to embrace the needed changes for their capitalisation. Throughout this collaboration, the businesses will incorporate their collective skill, expertise, data, and suite of solutions in order to offer a range of personalised plug-and-play tools to organisations and companies that are committed to improving the value they deliver to all their customers. This process is aimed at ensuring that the needs, demands, and preferences of all users and clients are met in an ever-evolving industry.
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