Moneyhub is partnering with Otto to enable next-generation employee wellbeing benefits.
Financial health provider Otto collaborated with open finance data, intelligence and payments platform Moneyhub to leverage its open finance expertise. Otto’s financial dashboard allows users to see the full scope of their finances, from investments, pensions, and loans to mortgages, bank accounts, and properties. Otto users will receive financial coaching as well as data-driven insights.
Users will be asked if they want to connect their accounts, whether they are investment accounts or pensions, when they sign up for the Otto platform, with Moneyhub’s technology facilitating the connections.
Otto says its platform is aimed at dealing with financial stress and according to a recent survey, ‘financial worries’ were cited as the number one source of stress by more than 60 per cent of employees.
Moneyhub says its mission is to provide its clients with a holistic view of their finances in order to enable financial wellbeing complements while Otto says its ambition is to promote financial health and democratise access to financial health.
Moneyhub CEO Sam Seaton says: “Open Finance empowers consumers to have full autonomy over their finances and it enables innovative enterprises like Otto to provide innovative and impactful financial services to their customers. Given our shared drive of improving financial health through smart technology, partnering with Otto has been a pleasure.”
Otto CEO Jan Thomas says: “Financial health, as well as the peace of mind that comes from knowing your finances are in good shape, should not be the exclusive benefit of the most well off in society: financial health needs to be democratised and it shouldn’t require a minimum balance, which is why we set up Otto to provide next-level financial wellbeing services. That’s also why we have chosen to partner with Moneyhub, which in addition to being a market-leader in Open Finance, is also a champion for financial health.”