Moneyhub, a leading data and payments platform based in the United Kingdom, has been recognised as one of the top 100 'most promising' fintech startups worldwide for 2023 by CBInsights.
The recognition comes after a rigorous selection process, where Moneyhub distinguished itself amongst a pool of more than 19,000 competitors over criteria such as equity funding, investor profiles, business relationships, R&D activity and market potential.
Significant investors such as Phoenix Group, Lloyds Banking Group, Legal & General, Nationwide Building Society, and SPWOne have backed Moneyhub, contributing to its impressive $81 million funding in December 2022. The platform's category of Core Banking & Infrastructure saw twelve UK-based startups in total, an encouraging testament to the country's growing fintech scene. Nearly three-quarters of this year's winners are B2B fintechs, indicating the escalating industry focus on platforms managing business spend, facilitating cross-border and real-time payments, in addition to core banking and infrastructure.
Sam Seaton, chief executive officer of Moneyhub, expressed the company's pleasure at its recognition among the world's leading startups. He said, "We are delighted to be named among the world’s top startups. We’re on a mission to enable our clients to use explicit consent-driven data for better financial outcomes for all their customers’ on a global scale." Seaton emphasised the importance of the company's technology in tackling a range of issues from helping vulnerable customers, assessing affordability, and artificial intelligence interventions for Consumer Duty, to providing personalised financial optimisation guidance.
This year, Moneyhub was the first third-party provider to connect with Chase Bank in the United Kingdom, making significant strides concerning Open Finance's global adoption and collaborating with MX. The company is spearheading the transformation of embedded finance for renowned companies including Vodafone, Mercer (Marsh McLennan), Aon, Willis Towers Watson, Franklin Templeton, and HSBC. According to Seaton, "We’re at an exciting stage in Moneyhub’s journey with our most recent announcement on the world's first Commercial Pensions Dashboard built with our Smart Saving technology that incorporates automated payments. There has never been a more important time to focus on financial wellbeing and we’re thrilled that CBInsights has commended our work.".
As an ISO 27001 certified software developer, Moneyhub focusses on Open Banking, Open Finance, and Open Data applications. Their FCA-regulated Open Data platform helps companies transform data into personalised digital experiences while initiating payments. With data aggregation, insights, notification nudges, and payment systems, Moneyhub supports businesses to create super-personalised offers, products, and services.