Data and payments platform Moneyhub has partnered with open finance solutions provider MX Technologies for driving the global adoption of open finance.

Through the partnership, Moneyhub and MX Technologies aim to utilise each other’s capabilities and networks to achieve positive results for organisations and consumers in Europe as well as North America.

Both companies allow access to real-time data and insights to support clients for monitoring their spending, streamlining their savings and investments, lowering expenses, and clearing debt.

The partnership will also enable Moneyhub to refer customers to MX Technologies for support in North America.

Besides, MX Technologies can refer clients to Moneyhub who have a need for open finance solutions in European markets.

Based in the UK, Moneyhub allows European clients in sharing data on their terms, enhance their financial health through automation of money management, and gain access to better products.

The firm also helps organisations in gaining a deeper understanding of their customers, enabling them to provide more suitable, pertinent, and customised products.

Moneyhub’s personal finance management platform and open banking APIs are designed to give consumers and businesses a comprehensive view of the consumer’s financial situation.

Moneyhub CEO Samantha Seaton said: “Forming a strategic partnership with MX is an exciting development for Moneyhub. It will allow our clients to use consent-driven data to improve their customers’ financial lives, on a global scale.

“Both businesses are well aligned in terms of not only our products and services but also our vision and values.”

Through its connectivity solutions, open finance APIs, and surface data insights, MX Technologies enhances business and consumer outcomes by helping to reliably connect and verify data and deliver personalised money experiences.

MX Technologies chief commercial officer Raymond den Hond said: “MX and Moneyhub share the belief that consumer-permissioned data sharing is critical to the future of our industry and we have an inherent responsibility to improve the money experience for consumers.”