January, 2018 – London-based Emma Technologies LTD, after successfully receiving approval by the Financial Conduct Authority, has integrated with Monzo, the London-based challenger bank. The company, which was one of the first Account Information Services registered by the FCA, has now made its first Open Banking integration.
Emma is currently building the banking app for millennials (iOS and Android), a mobile only solution that helps consumers avoid overdrafts, find and cancel subscriptions, track debt and save money. The product aims at providing a consumer focused banking experience, with the only aim to improve the financial situation of its users.
“This integration projects Emma into Open Banking, which comes with thousands of possibilities for new businesses and companies like Emma. We truly believe the integration with Monzo will create synergies and provide customers an enriched overview of their finances across all their accounts. ” – Edoardo Moreni, CEO and Co-founder, Emma Technologies LTD.
In the past years, managing money has become extremely difficult. People tend to have multiple accounts, several contracts, different credit cards and the challenges of having everything under control keep growing. Emma wants to put an end to this. Money management should be easy and straightforward. Consumers should be able to access all the information regarding their personal finance from the push of a button.
Emma is here to solve this problem and try to give customers a different banking experience, which puts them first, not their money or background. The company believes anyone should have an advocate that is able to help in the daily life, no matter who they are and where they come from.
“Making an API available opens up loads of new opportunities, for fintech companies like Emma, and for our customers. Our goal at Monzo is to give our customers more visibility and control over their money. Through our API, integrations like this become possible, meaning our customers can choose to access useful new services to help them manage their money.” – Tom Blomfield, CEO and Co-Founder, Monzo.