British money management app Emma has entered into an open banking partnership with automatic saving app Chip.
The partnership will enable Chip customers to track their savings and savings goals through Emma’s dashboard.
Go deeper with GlobalData
Emma CEO Edoardo Moreni said: “Emma was built to empower millions of individuals to live a better and more fulfilling financial life. Chip is the next emerging FinTech and we are thrilled to welcome them as an integration.
“Our users can now manage and track their Chip savings alongside more traditional finances to make wiser and more transparent decisions.”
The open banking partnership is said to be first of its kind in the UK. Emma in a statement said that such collaborations can disrupt the UK’s consumer finance market and support open banking initiative.
Launched in January last year, Emma offers a dashboard to enable the users assess their spending habits.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataIt also includes other features to enable the customers track debt, save money and avoid overdrafts.
Overall, it aims to offer a consumer focused banking experience to improve the financial situation of the users. Last year, the company raised £500,000 through a seed round led by Kima Ventures.
This year, the company integrated with challenger bank Starling, its second open banking integration.
Emma banking app is available on iOS and Android platforms.
