Australian fintech Lucie Money partners with Fiskil to embed Open Banking data into app

Source: Reputation Edge

Lucie Money, the Sydney fintech building a conversational money agent, has gone live under Australia’s Consumer Data Right (CDR) by leveraging Fiskil’s infrastructure to securely access Open Banking data.

With customer consent, Lucie Money will import banking transaction data directly into the app – privately and securely – using Fiskil’s advanced infrastructure.

Lucie Money is building on Open Banking, to avoid manual uploads and screen scraping, so customers can have confidence that trusted bank data is being used to deliver reliable answers to money questions.

Anthony Voigt, founder and chief executive officer of Lucie Money, said: “Lucie Money starts with bank data, collected securely and categorised properly. Then it helps with budgets and goals, and knowing whether you’ll get there. You can’t do any of that without accurate data underneath it.”

Using the app’s conversational interface, customers can ask what they can afford, whether a bill is covered, or where their spending has drifted since last month.

The AI-enabled agent answers those questions directly and in plain language, so the customer does not have to try to interpret a dashboard.

“Most people are doing their best with their money and still aren’t sure it’s enough,” Voigt said.

“That’s the gap I want Lucie Money to close,” he emphasised. “You don’t have to do all this yourself; you have an agent by your side.”

The app delivers the power of AI without putting users at risk by entering sensitive information into a publicly available LLM.

“Lucie Money keeps an eye on your money, tells you when something needs attention and helps you get things done, rather than waiting to be asked,” Voigt added.

“Lucie Money can help with a funding plan for a big one-off expense like an overseas holiday, by surfacing the available options and communicating the financial tradeoffs. You could chat through what a regular weekly savings goal would look like in the time available, or what it would mean to tap into emergency money,” Voigt said.

As Lucie Money’s CDR principal, Fiskil will enable the critical integration that will connect Lucie Money’s customers with their personal financial data via Open Banking.

Under the arrangement, Fiskil holds the CDR accreditation and Lucie Money operates as its CDR representative, bound by the CDR obligations passed through in that agreement.

“Fiskil is delighted to support Lucie Money’s Open Banking data feeds as their chosen infrastructure provider,” said Jacob Parker, chief executive officer and founder of Fiskil.

“The benefits of Open Banking for Lucie Money’s customers include real-time bank data sync, enhanced security, time efficiency and personal insights,” Parker added.

“This is an exciting first step for Lucie Money because nothing we build later will work unless the architecture is right in the first place,” Voigt noted.

Lucie Money is in build, with a waitlist open at lucie.money.

Lucie Money’s mission is to build a wealthtech app that reaches across the whole of a person’s money life and delivers help at the moment a decision is being made, rather than an analytical record of what has already happened.

Further reading: Adyen partners with Fiskil to ‘expand Open Banking capabilities’ in Australia