- ARQ monitors investments and benchmarks users’ performance all in a single app
- Moneyhub’s breadth of Open Banking and Open Finance connections allows ARQ to give users simple and transparent data on their wealth including property.
Fintech platform ARQ, has chosen Open Finance leader Moneyhub to power its cutting-edge technology with data and intelligence, providing investors with deeper insights into all their wealth and assets, from pensions to property.
ARQ enables investors to make better choices by transparently showing investment costs and benchmarking performance against like for like comparisons. This offering will be further enhanced by Moneyhub’s capacity to offer not just Open Banking APIs but Open Finance connections. Moneyhub’s Data Enrichment service allows ARQ to uniquely identify investments to enable detailed analytics to be surfaced.
By using Moneyhub’s full suite of data APIs, ARQ acts as a facilitator and a bond between clients and their wealth manager, leveraging technology to better their interactions through a 24/7 digital solution. Providing investors with a holistic and comprehensive view of their wealth, not only delivers the necessary insight for smart financial decision making, but the ARQ platform will also suggest philanthropic ways that this additional wealth could be used to make the world a better place.
Manish Vekaria, CEO of ARQ comments:
“ARQ was created to breathe new life into the wealth management industry. We are on a mission to increase the wealth of millions of individuals by creating the most transparent, independent and personalised experience”
“The Moneyhub team is highly experienced and this expertise is reflected in their market-leading technology. We have worked closely with their team during our evolution to build a product that our clients seek – Moneyhub has been with us every step of the way, responsive and innovative in their approach.”
Samantha Seaton, CEO of Moneyhub comments:
“The wealth management industry has been slow to introduce digital services and this coupled with a lack of transparency over fees and costs of investments has meant that investors have largely been in the dark when it comes to understanding their wealth. It has been a delight to work with a business like ARQ who recognize the need for holistic financial data to solve these deep-seated issues within the industry.
“Technology like Open Banking and Open Finance means that platforms like ARQ can show a truer picture of someone’s wealth by pulling together all their assets and accounts into one place. This can be truly transformative in helping investors unlock additional wealth which they can then- through ARQ’s nudges- fund causes that truly make a difference in the world.”
ARQ has arrived 10 years ahead of the curve. In Cap Gemini’s 2020 report they state:
“By 2030 its estimated that 80% of new wealth management clients will want to access advice in a Netflix Style model that is data driven, personalised, continuous and, potentially, by subscription”.
ARQ strives to unlock more wealth for their clients and is motivated by the desire to make the world a better place. By providing additional performance to clients it is hoped that they direct some of their incremental wealth towards social good.
See www.yourarq.com for more detail.
Moneyhub is the only Open Finance platform to aggregate data from a customers’ entire financial universe in one place. The platform connects to thousands of financial institutions from bank accounts, mortgages and loans, to investments, pensions, savings and credit cards – all with the customer’s consent. Using this data Moneyhub unlocks unique and holistic insights into the user’s financial habits, needs, behaviours, and aspirations. This enables businesses to remove their customers’ financial anxiety and stress by empowering them to do more with their money. Thanks to Moneyhub’s white labelling solutions and APIs, any business - Financial Services or otherwise - can offer a range of financial products with little capital investment or regulatory burden.
Through Moneyhub’s categorisation engine and nudging technology, businesses can now develop more supportive customer relationships and extend their customers’ lifetime value. This is achieved by creating more engaging and impactful customer experiences through hyper-personalised products and services. Moneyhub also enables account-to-account payments and helps banks to become fully PSD2 compliant in less than 30 days. Clients using Moneyhub’s Open Finance Platform include FTSE 100 companies and fintech startups.
The company takes consumer data security seriously and has been instrumental in the roll-out of Open Banking from its beginning. Founded in 2009, Moneyhub is authorised as AISP and PISP by the FCA, ISO-27001 certified, a founding member of FDTA and a member of EMA.
To find out more, please visit www.moneyhubenterprise.com