UK’s all-digital-driven Starling Bank picks Moneybox for customer benefit upgrades

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Banking on the capabilities of the leading investment mobile app, Moneybox, the 100% digital-based Starling Bank of UK, has announced a major upgrade into newer digital products that will enhance the quality of services to its customers.

The tie-up with Moneybox will open a plethora of savings and investment banking tools, exclusively developed by Moneybox and now made accessible by Starling Bank.

Reportedly the first bank in the UK to go full digital in its operations, Starling’s open API will provide a new gateway to integrate customer profiles into the system. The data will be shareable only within the jurisdiction of the two apps, and transactions will move at faster laser speeds than ever before.

Said, Megan Caywood, the Chief Platform Officer at Starling Bank, “We believe that customers own their data and should be able to use it to better their relationship with their money. This is why we’ve built our Marketplace and why Starling’s APIs enable third-party developers, like Moneybox, to build a much wider range of apps and integrations that can help people manage their money more easily and effectively,”

Earlier this year, Starling Bank had launched the beta version of this mobile app, and had followed it up with the launch fanfare of its own API and developer platform,

Excited about the new integration and partnership with the first challenger bank to offer real-time round-ups, Charles Mortimer, co-Founder of Moneybox, spoke thus, “Our goal is to make it easier than ever for our customers to save and invest…the round-ups concept (is) a popular way of helping people get started and breaking the inertia surrounding saving and investment.”

Specially designed to address the increasing number of millennials migrating from traditional banking system to FinTech-based outfits, the unique ‘rounds-off’ feature from Moneybox promptly rounds-off any given transaction value in seconds and credits the change to the account of its user. The concept was introduced by Moneybox in 2015 and has been an attraction within the banking environment ever since.

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