PFM chatbot Plum connects to Monzo and Starling

Using TrueLayer, users avoid sharing their login details by logging in with the actual provider (Monzo/Starling) and then authorising another party (TrueLayer) to access their data.

This allows Plum to request access to account data held by Monzo or Starling, via an API, without ever learning the user’s login information.

Plum says account information will only be accessible when a customer chooses to use a new product and actively agrees to share their information. Access is read-only so cannot be used to make changes and the data passed is end-to-end encrypted.

Plum worwks by connecting to UK current accounts and monitoring spending patterns, setting aside an amount of money that can be saved every few days.

Users can also analyse their spending using the Insights features or choose to invest in one of seven options tailored around industry themes such as ethical investments.