Moneyhub has secured Payment Initiation Services Provider (PISP) authorisation from the FCA.
This will give users of the fintech company the ability to make payments and bank-to-bank transfers.
The PISP authorisation goes further than that offered by Account Information Services Provider (AISP) by enabling visibility of all financial transactions across accounts in one place.
Moneyhub has also launched its API gateway, which has a pricing structure which offers a ‘per account’ model as well as a ‘per user’ model, which simplifies the integration of individuals with multiple accounts for developers.
Samantha Seaton, CEO at Moneyhub (pictured above), believed that the introduction of Open Banking had been transformative for people’s relationships with their finances, but felt that its potential was only just being realised.
“We are delighted that as one of the first regulated providers of Open Banking technologies, we have been at the forefront of developing payment capabilities and have now secured FCA approval as a Payment Initiation Services Provider.
“This means we can empower our clients to advance their customer-centric propositions.
“The end of tedious financial administration on the journey to ever-increasing financial wellbeing starts here.”
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