Plum’s chatbot integrates Monzo and Starling

Money management chatbot Plum will now support challenger banks Monzo and Starling Bank via Open Banking and a partnership with TrueLayer.

Users can now avoid sharing their login details by logging in with their actual banking provider and then authorising another party - TrueLayer - to access their data. This allows Plum to request access to account data held by Monzo or Starling, simply and securely via an API, without ever learning the user’s login information.

Account information will only be accessible when a customer chooses to use a new product and actively agrees to share their information. Access is read-only, so cannot be used to make changes and the data passed is end-to-end encrypted.

Plum connects to UK current accounts and monitors spending patterns, setting aside an amount of money that can be safely saved every few days. Users can also analyse their spending using the Insights features, or choose to invest in one of seven options tailored around industry themes such as ethical investments.

“Adding Monzo and Starling to our ever growing list of supported banks is a key step in achieving our mission to make everyone better off,” commented Victor Trokoudes, chief executive and co-founder of Plum. “We have seen demand for challenger banks increasing significantly since we launched and are thrilled to see that these banks are gaining momentum.”

Francesco Simoneschi, chief executive and co-founder of TrueLayer, added: “Every week brings an exciting new application of Open Banking - this is a testament to how the initiative should work - a disruptive new technology can quickly and securely become available to a bank’s customers.”

    Share Story:

Recent Stories

The Future of Intelligent Finance
FStech Group Editor Mark Evans sits down with Jason Cao, President of Global Financial Services Business Unit, Enterprise BG at Huawei ahead of its Intelligent Finance Summit which was held on 3rd and 4th of June in Shanghai. This Q&A delves into key trends in digital transformation of the financial services industry as well as a look at how data, robotic infrastructure, intelligent storage and innovative technologies are shaping the future for FSIs.

The Rise of Instant Payments
Instant payments are creating new business opportunities for banks by providing more touchpoints than ever. With these evolutions underway, Featurespace brought leading industry experts together to discuss how they are protecting customers from fraudsters in real time, utilizing innovative and disruptive solutions to reduce fraud. Click here to find out more.

Offloading Cyber Risk in the Cloud
As cyber attacks and data breaches are in the news on an increasingly regular basis - with regulatory penalties and customer trust on the line for financial services firms - it has never been more crucial to be compliant in the cloud.

This video, with Akamai’s EMEA director of security technology and strategy Richard Meeus, will help explain what your company can be doing to make sure it’s not embroiled in the next big fine or front-page scandal.