Moneyhub Open Banking solutions made available to UK public sector

Ellie Duncan
12 Feb 2024

UK-based Moneyhub has been accepted as a supplier on Crown Commercial Service’s (CCS’s) new Open Banking Dynamic Purchasing System (DPS).

Government organisations and public sector entities will be able to purchase Moneyhub’s Open Banking and payment services through the DPS.

CCS, which is an executive agency of the Cabinet Office, supports the public sector to achieve maximum commercial value when procuring common goods and services and, in 2021-22, helped the public sector to achieve commercial benefits worth £2.8 billion.

Last month, Ecospend became the first Open Banking provider to join the DPS.

Vaughan Jenkins, managing director of partnerships at Moneyhub, said: “At Moneyhub we’re on a mission to enhance the lifetime financial wellness of people, their communities and their businesses, and the public sector has a significant opportunity to benefit from and lead the way in the mass adoption of Open Banking solutions.

“The continued adoption of Open Banking technology will result in better outcomes for taxpayers and the country.”

Moneyhub counts Nationwide, Standard Life, Lloyds Banking Group and Legal & General among its clients.

In June last year, savings provider Standard Life rolled out its own Open Finance-powered tool, ‘Money Mindset’, to its existing 1.5 million workplace pension scheme members via a partnership with Moneyhub.

The partnership was extended in September the same year, with the announcement that Moneyhub will deliver Standard Life’s commercial pension dashboard.