Money Dashboard partners GoCompare in data project
Steve Tigar: ‘accelerating innovation’
Price comparison website GoCompare has announced a strategic partnership with Edinburgh-based open banking pioneer Money Dashboard.
The move, which will be unveiled at the FDATA Global Open Banking Summit in Edinburgh today, is part of GoCompare’s fintech community development project Machine Learning for Fintech (ML4Fintech).
Money Dashboard has developed an expertise in machine learning and data science that will dovetail with the ML4Fintech project launched this year.
It allows members to pass anonymised transactional data to GoCompare, which will carry out in-depth analysis and produce to help them better understand their customers and better tailor products and services, for free.
Member organisations benefit from some of the UK’s best data science practices, without the need to invest in their own teams or tech, allowing them to focus on innovation and driving better services for their own customers.
Jackson Hull, GoCompare’s chief operating and technology officer, said: “When we launched Machine Learning for Fintech earlier this year, our goal was to grow and develop the project by joining forces with other anchors of the fintech community to share data best practices, securely combine anonymised data sources and facilitate innovation in our industry.
“Through Open Banking, fintech businesses like GoCompare don’t just have an opportunity to improve the services we can offer, but also a responsibility to drive innovation and create the absolute best experiences for customers.
“Our partnership with Money Dashboard, a successful, forward-thinking fintech brand, is a key part in the development of this vision, and our hope is that together we can help financial organisations better understand and serve their customers.”
Steve Tigar chief executive at Money Dashboard, said: “Open Banking presents a massive opportunity for services like ours to provide a safe and secure way for consumers to get on top of their finances and ultimately lead happier, more successful lives.
“As well as delivering this directly to our own user base, by establishing partnerships with key industry players like GoCompare we are together providing a free platform to help accelerate innovation in the Open Banking space, which we believe will yield exciting new products in other areas like savings, pensions, investment and credit.”