Moneybox and Starling Bank Partner On Digital Investment

U.K.-based, digital-only Starling Bank just recently announced a partnership with investment mobile app Moneybox. The partnership will provide Starling customers with access to Moneybox’s suite of savings and investing tools, said Finextra.

Starling is reportedly the first challenger bank to integrate in this way with Moneybox. Leveraging Starling’s open APIs in the integration, customer data will be shareable in a secure way between the two apps. Transactions will occur instantaneously.

“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,” said Megan Caywood, Starling’s chief platform officer.

Starling Bank, which launched the beta version of its mobile app in March of this year, more recently launched its API and developer platform publicly earlier this month. Moneybox is the first to integrate.

“Our goal is to make it easier than ever for our customers to save and invest. As the first challenger bank to offer an open API, we’re very excited to work with Starling to offer real-time round-ups for the first time,” said Charlie Mortimer, co-founder of Moneybox. “We’ve found the round-ups concept to be a popular way of helping people get started and breaking the inertia surrounding saving and investment.”

Founded in 2015, Moneybox rounds off any given transaction’s value, saving the change for its user. It was specifically designed to target the growing wave of millennials moving away from the traditional banking system toward FinTech companies.