Smart banking platform Curve has joined forces with Plaid to help people manage their money.
The Curve app allows people from the UK to spend from multiple bank accounts using a single debit card. It aims to give customers a better insight into their spending behaviour and more control over their finances.
Read more: ‘Break’ London banks and give us access to data: fintech firms tell FCA
The London fintech startup will use Plaid’s Open Banking platform and database to connect accounts from banks such as Monzo, Starling, Barclays and HSBC.
App users will be able to see the balances from all their connected accounts which will be refreshed automatically when they open the app. Curve hope that this will encourage people to make better spending decisions.
Tom Hay, Curve’s Head of PayTech said: “With the introduction of Open Banking, we are offering Curve’s UK customers greater control of their finances at the touch of a button, helping them to spend with confidence.”
The open banking industry is gaining popularity as people look for more competition and transparency among financial service providers.
Plaid’s platform already connects 11,000 financial institutions to more than 3,000 digital finance apps such as Transferwise, Monzo, Coinbase and Sage.
Read more: How Covid-19 turned out to be Open Banking’s moment to shine
