MoneyFarm partners Fabrick for Open Banking

Digital wealth manager MoneyFarm has partnered Open Banking platform Fabrick to enable new services for customers in the UK and Italy.

Announcing the tie up, the companies said the Coronavirus crisis had “drastically affected the banking habits and needs of consumers”, with many turning to digital and app-based services.

This partnership will bring Moneyfarm's digital wealth management to banks, intermediaries and their customers.

Under the agreement, Moneyfarm will publish its Application Programming Interfaces (APIs) on Fabrick's platform, allowing banks and intermediaries to integrate the Moneyfarm service into their offering, developing modular ETF wealth management solutions.

In recent years, Moneyfarm has invested in several strategic partnerships and joint products to offer investment services to its customers - such as with Yapily earlier this year and Poste Italiane last year.

Giovanni Daprà, co-founder and chief executive of Moneyfarm, said: “Our model combines technology, convenience and personalised portfolio management – something our customers have particularly looked to and relied on during recent turbulent months.

"With Fabrick, we can respond to the need for traditional financial operators to offer increasingly digital and advanced solutions to their customers.”

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