tell.money, a leading provider of open banking solutions, announced its appointment as the official open banking gateway provider for Monese, the award-winning mobile money app. This strategic partnership came at a pivotal moment as embedded finance solutions were experiencing rapid growth across the UK and EU markets.
The collaboration represents a significant milestone in tell.money’s mission to streamline open banking integration for Third Party Providers (TPPs) while broadening its European footprint. As part of the partnership, tell.money will offer comprehensive EU coverage for TPPs, along with enhanced support features, including a dedicated sandbox environment for testing and implementation.
tell.money Co-Founder David Monty stated, “We are delighted to announce this choice by Monese to integrate tell.money as its open banking partner. It showcases our desire to enable more TPPs to engage with the fintechs sector. tell.money is now able to support them more rapidly to register as a TPP (Third Party Payment Provider) and allow our mutual clients to have access to account information and payment initiation.”
The partnership introduces several key benefits for TPPs and financial institutions:
• Seamless Migration: Existing TPP partners can transition smoothly to the new system with comprehensive support throughout the process
• Enhanced Testing Capabilities: Access to tell.money’s sandbox environment enables thorough testing before live implementation
• Dedicated Support: Assignment of implementation managers to guide TPPs through the integration process
• Extended Geographic Coverage: Full EU market access, complementing existing UK operations • Consolidated Account Management: Enhanced capability for users to view multiple account balances in one interface • Secure Payment Initiation: Streamlined payment processes with robust security protocols
This partnership aligns with current market trends, particularly the FCA’s focus on enhancing open banking frameworks and the industry’s move towards broader open finance initiatives. It addresses growing demand for embedded finance solutions while maintaining strict compliance with PSD2 regulations.
Monese Founder and CEO Norris Koppel said “We’re delighted to partner with tell.money for our open banking services and give our customers control over their finances. This integration ensures we continue providing customers with the ability to link their third party banking applications and manage their money in one place. We’re committed to making financial services simple and accessible for all, and we’re happy that tell.money can support us in delivering this.”
