Following its FCA approval last week, UK money management app Emma has confirmed that it is getting on board with Monzo’s interim API, in what will be the first Open Banking integration for both companies.

London-based Emma Technologies is currently building a banking app on both iOS and Android that targets Millennials. It is being designed as a mobile-only solution to help consumers avoid overdrafts, find and cancel subscriptions, track debt and save money across multiple financial accounts – something made possible through the UK’s new Open Banking initiative.

Edoardo Moreni, the CEO and co-founder of Emma Technologies, said: “This integration projects Emma into Open Banking, which comes with thousands of possibilities for new businesses and companies like Emma. We truly believe the integration with Monzo will create synergies and provide customers an enriched overview of their finances across all their accounts.”

“Making an API available opens up loads of new opportunities, for FinTech companies like Emma and for our customers,” added Tom Blomfield, Monzo’s CEO and co-founder. “Our goal at Monzo is to give our customers more visibility and control over their money. Through our API, integrations like this become possible, meaning our customers can choose to access useful new services to help them manage their money.”

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