Partnership to integrate open finance functionality across Standard Life app and dashboard
- This integration will affect 1.5m workplace pension scheme members
- Users will be able to connect bank accounts, loans, pensions, mortgages, credit cards, ISAs and other financial products
- Phoenix Group, which owns Standard Life, invested £15m in MoneyHub’s last funding round
What does this mean?
“Understanding your finances is the first step on the financial wellness journey. If we don’t understand what we have now and our current spending patterns, it is almost impossible to find ways to better manage our money,” said Samantha Seaton, CEO of Moneyhub. “Only once we have a full and holistic view, can we find ways to improve our money management, boost savings, and ultimately enhance our later life pots. It’s fantastic that Standard Life has the foresight to understand that the only way to boost pension savings is to start at the very beginning, and we’re looking forward to working with the team as we continue to innovate and find new ways to support scheme members improve their financial wellness.”