Hodge Bank partners with Modulr on digital banking

Hodge and Modulr have announced a new partnership which will enable the UK-based bank's customers to access their balance and payments in real-time.

Modulr is a Payments as a Service API platform for digital businesses.

The 56-year-old bank said that the integration of the platform will give customers “increased control and reassurance”.

Customers will also have access to Modulr’s Confirmation of Payee service – which means when a customer sends funds to their Hodge account number, the sending bank recognises the account as their own.

The FinTech said that this marks the first time it has partnered with a bank in this way.

"We're committed to putting our customers first and focusing on what matters to them,” said Katie Johnson, managing director of savings, Hodge. “What they've told us is they want greater control and transparency when it comes to their finances, in a fast and convenient way.

“Our partnership with Modulr is about providing exactly that. We're looking forward to working with Modulr on new projects, especially with their focus on customer confidence and control over finances using facilities like Confirmation of Payee."

Myles Stephenson, chief executive and founder of Modulr added: "This really shows how financial services have changed in recent years, and it's a great reminder of how FinTechs and banks can work together to turn analogue experiences into digital ones. Not only does Modulr provide the fast, reassured, and convenient payments infrastructure customers demand, we also provide security and trust for Hodge’s customers. We hope to provide support to those who are less familiar with online banking and using digital tools like Confirmation of Payee to provide an important level of protection and visibility."

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