UK-based Islamic banking start-up MoneeMint is integrating open banking platform Bud’s Engage solutions to help enable the app deliver greater transparency and a personal and Shariah compliant banking experience for its customers.
In a statement, MoneeMint said it is looking to launch in the fourth quarter (Q4) 2022, with open banking playing a major role. Founded in 2017, MoneeMint was previously known as Ummah Finance. The start-up in April this year appointed former Natwest banker, Kevin Guy, as its group COO.
MoneeMint will leverage on Bud’s core intelligence services – categorizations, regular payments and personalized insights – allowing its customers to top-up their MoneeMint account via Bud Pay, an open banking-initiated payments channel, among others.