After making this announcement, the fintech companies Rebcat Technology, Moneyhub, and Navos Technologies will concentrate on creating and deploying optimised technological solutions with the goal of empowering big financial institutions to provide customised financial support, counsel, and direction to their clientele. Furthermore, for several clients who are in the guidance gap, the new solutions will offer a much-needed lifeline of advice.

Additional details about the collaboration

A data, intelligence, and payment startup called Moneyhub creates software for open banking, open data, and open finance applications that is ISO 27001 certified. In order to help businesses quickly, simply, and securely transform data into a tailored digital experience and initiate payments in a safe and effective manner, the company will make its FCA-regulated Open Data platform available. Navos is a specialised technology solutions company that helps businesses operating inside and adjacent to the financial services sector overcome market difficulties.

In order to concentrate the initial solutions on closing the advice gap that many people in the UK region experience, Rebcat will donate its proven technology. In addition, it will provide crucial tools for mortgages, investments, protection, and money management. Additionally, the institutions will give top priority to maintaining compliance with local market regulations and legislation. It is anticipated that the collaboration will boost engagement and drive efficiencies while yielding benefits for users and businesses alike.

As per the press release, the FCA prioritised genuine clients at the core of its future plans, taking Consumer Duty and following it up with actions, consultations, and comments.

It was anticipated that this process would present a number of challenges to businesses, particularly those with sizable clientele from the past, but it would also present a number of opportunities to those who are able to recognise these challenges and are prepared to make the necessary adjustments to maximise their potential. Through this partnership, the companies will combine their combined knowledge, experience, resources, and array of products to provide a variety of customised plug-and-play tools to businesses and organisations that are dedicated to enhancing the value they provide to each and every one of their clients. In a sector that is always changing, this procedure aims to guarantee that the requirements, preferences, and needs of all users and clients are satisfied.