Moneyhub is partnering with Cash Squirrel to supply open banking know-how for Cash Squirrel’s new small enterprise monetary administration app.
Cash Squirrel’s new app is aimed to automate VAT financial savings and optimize money move.
The collaboration comes as rules like PSD2 proceed to form the open banking panorama throughout Europe.
Information and funds fintech Moneyhub unveiled this week that it has been chosen by Cash Squirrel to energy its new small enterprise monetary administration app.
Launched final month, Cash Squirrel’s app goals to assist companies handle their funds and optimize their cashflow. The UK-based firm will leverage Moneyhub’s open banking-enabled API know-how to energy the platform. Cash Squirrel’s instruments permit companies to automate saving for future VAT funds. As soon as companies join their financial savings accounts, Cash Squirrel locations incoming funds into excessive rate of interest accounts to maximise returns on sedentary money, in accordance with the enterprise’ desire.
“Having Moneyhub’s API know-how has been essential to launching our app, nevertheless it’s additionally encouraging to be aligned with them on the intention of constructing open banking and open finance extra inclusive,” mentioned Cash Squirrel Founder and CEO Andreea Daly. “Having based a enterprise, I’ve skilled the frustrations of managing money move – spending numerous hours calculating VAT and budgeting for future bills. Subsequently, we all know firsthand how having the know-how to take away these frustrations can unlock a lot potential for companies.”
Based in 2023, Cash Squirrel was chosen to take part within the SHIFT open finance group’s devoted fintech incubator, Ignite. This system offers monetary assist, skilled steerage, and trade networking alternatives.
Moneyhub was based in 2014 and sells private finance know-how instruments, open information APIs, decisioning options, and funds capabilities. The corporate helps companies leverage open information to reinforce the monetary wellness of their clients, communities, and companies.
“Collaborating with Cash Squirrel is a big step in making open banking know-how accessible to each SMEs and bigger establishments,” mentioned Moneyhub MD of API Kim Jenkins. “We’re thrilled to assist simplify monetary administration and unlock development alternatives for smaller companies by powering Cash Squirrel’s app with our API. This partnership highlights our dedication to driving monetary inclusivity and innovation throughout the board.”
As rules like PSD2 proceed to evolve throughout Europe, companies are more and more adopting open finance options to realize higher management over their monetary operations. By automating duties comparable to VAT planning and money move optimization, fintechs like Cash Squirrel can assist companies cut back administrative burdens, enhance liquidity administration, and make extra data-driven monetary selections.
Moneyhub has demoed its know-how at FinovateEurope 2015 and FinovateEurope 2017. This yr’s FinovateEurope occasion is just some weeks away. Be taught extra about this yr’s demoing firms and register to attend to participate within the motion.
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