Open banking and open finance data platform, Moneyhub, has announced a new partnership with financial health platform, Otto, to enable employee wellbeing benefits.

With access to Moneyhub’s connections of financial services providers, users of Otto’s financial dashboard can now see the full scope of their finances, which Otto suggested will lead to greater financial health.

Otto’s platform, which is available via employee benefits schemes, is designed to help solve financial stress for employees. According to to a recent survey by Perkbox, more than 60% of employees cited ‘financial worries’ as their number one source of stress.

Once users sign up to the Otto platform they’ll be asked if they want to connect their accounts, which could be be an investment account or pension, with Moneyhub’s technology.

Moneyhub CEO, Sam Seaton, commented: “Open finance empowers consumers to have full autonomy over their finances and it enables innovative enterprises like Otto to provide innovative and impactful financial services to their customers. Given our shared drive of improving financial health through smart technology, partnering with Otto has been a pleasure.”

Otto CEO, Jan Thomas, added: “Financial health, as well as the peace of mind that comes from knowing your finances are in good shape, should not be the exclusive benefit of the most well off in society. Financial health needs to be democratised and it shouldn’t require a minimum balance, which is why we set up Otto to provide next-level financial wellbeing services.

“That’s also why we have chosen to partner with Moneyhub, which in addition to being a market-leader in open finance, is also a champion for financial health.”

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