Moneyhub has launched an innovative new feature that makes it easier than ever for consumers to set personal financial goals and optimize their money.
The new sweeping feature is a response to persistently strong client demand and increased public awareness of Open Finance, with a survey from The Investing and Saving Alliance (TISA) recently 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 new ‘Challenges’ and ‘Sweeping’ tools to enable their customers to move, or ‘sweep,’ money effortlessly between their accounts. This in turn provides the opportunity for those customers to set themselves financial challenges, such as a savings goal or debt repayment objective, and move money into the relevant account if they reach the target.
Dan Scholey, COO of Moneyhub said:
“Moneyhub’s overarching ambition is to improve the financial wellness of individuals, businesses and communities, allowing people to reduce debt, avoid unnecessary fees and make their money work harder. “We also want to empower our clients to make their own unique contribution to financial wellbeing and believe our new ‘Challenges’ and ‘Sweeping’ services can be helpful to that end.”
