LONDON--Moneyhub, a data and payments platform, announced it has become the first third-party provider (TPP) to connect to Co-op Bank, Smile Bank, and Kroo Bank, The Paypers reported.
As CUToday.info has been reporting, open banking has been gaining firm foothold in Europe, and regulators and the CFPB have actively been taking steps to facilitate its expansion and adoption in the U.S.
Moneyhub stated that its users have been increasingly asking for connections to Co-op, Smile and Kroo, The Paypers said.
What’s Being Offered
Here’s a look at who’s involved:
- The Co-op Bank is a U.K.-based bank providing a range of banking products and services to 2.7 million retail customers. The bank also provides business loans, credit cards, and deposit products to a growing pool of UK businesses, The Paypers noted.
- Smile Bank, a trading division of the Co-op Bank, is a U.K.-based original digital bank offering full-service current accounts, savings, ISAs, investments, and credit cards.
- Kroo Bank, a digital bank launched in December 2022, offers customers a current account, an overdraft, deposit protection up to GBP 85,000 and zero fees on spending abroad, The Paypers said.
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