Challenger bank Starling adds investment service Wealthify to its in-app marketplace

INSUBCONTINENT EXCLUSIVE:
Starling, the U.K
and loyalty partner Flux.However, the Wealthify integration goes a little deeper than most of the current partnerships and represents the
next phase of the Starling Marketplace
Unlike PensionBee, for example, which only shares high-level data with the Starling app (e.g
the size of your pension pot), Wealthify data sharing is two-way, meaning that you can authorize Starling to share a limited set of your
name, DOB, address, etc
explains
advance each of it partnerships to get to this two-way integration, where Starling customers can more easily access products and services
and manage them on an ongoing basis.More broadly, the idea behind marketplace banking is that your bank will provide you with access to a
choice of third-party money-related apps and services
Partnerships are being forged at a rapid pace, either formally or simply through open APIs mandated by Open Banking/PSD2
some form or another
To varying degrees, the likes of Monzo, Revolut, Tandem, Curve and Cleo are also exploring similar ideas, with the end goal to become your
financial control center.