BCU Bank, a division of P&N Group, has partnered with Frollo to launch a new personal financial empowerment tool – mymo by BCU Bank – to its customers, under the Consumer Data Right using Open Banking.
BCU’s customers had indicated, through surveys and research, they want greater financial empowerment. Using mymo, BCU’s customers will be able to keep a better track of their spending, goals and budgeting to achieve financial empowerment. They can also make the app their own through personalisation, including reorganising transactions categories, because it’s their money, used and spent their way.
Technology and apps are an important part of the banking experience, and in today’s world they are expected to be easy, intuitive, and part of the day-to-day.
“mymo by BCU complements our existing suite of digital tools, and will allow us to build deeper, more personalised member relationships and value-adds through rich data.”
“Consumer trust will be a key element in the take-up of this new way of banking, and that’s why we’ve partnered with trusted organisation, Frollo, to deliver an Open Banking solution that ensures customers can safely and securely share and manage their data and information.” said Mark Smyth, General Manager of BCU Bank.
Frollo CEO, Tony Thrassis added “we recognise that financial well-being tools are an essential component of the modern digital banking experience, and we believe that Open Banking is the key to providing customers with a comprehensive view of their finances.”“We are thrilled to collaborate with BCU to leverage Open Banking’s potential to deliver even more value to its customers. This partnership is a testament to our shared commitment to innovation, and we look forward to working closely with BCU to drive positive change in the industry,” Thrassis said.