Wealthsimple is among the first partners to be announced, marking yet another integration for the robo-advisor.
Fresh off launching a crypto-currency tool which allows its users to track their holdings on multiple exchanges, Emma has unveiled its fintech marketplace.
Users of the money app will be able to use the marketplace to seamlessly connect with a range of financial services providers.
Focused on millennials, Emma seeks to help its users dodge overdrafts, find and cancel subscriptions, track debt and save money.
At its core, the app wants to let users view and manage all aspects of their financial lives in one place. It is not so very different in that sense from ING-backed money app Yolt, which has also been adding partners at a rate of knots.
Only last week, Yolt teamed up with robo-advisor Wealthify, thus claiming to have become the first UK money app to show users their live investments alongside bank balances, credit cards, savings and pensions.
Emma’s first three marketplace partners are Wealthsimple, pension manager PensionBee and rent recognition firm CreditLadder, which recently scooped a slice of the government’s £2m ‘rental recognition’ prize.
Wealthsimple, which hails from Canada, has clearly earmarked the marketplaces of digital banks and money apps as a key source of customer acquisition. It is now integrated with both Emma and Starling Bank.
“By making financial services more accessible, we have the opportunity to empower a new generation of people to reach their financial goals and the introduction of Emma's Marketplace is a great step towards accomplishing this. Emma share our values for transparent and affordable financial services and we're excited to collaborate with their team to offer investing to customers,” said Toby Triebel, Wealthsimple’s Europe CEO.
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