Marygold & Co UK selects Griffin to embed savings accounts into money management app
Marygold & Co UK (MGUK) has partnered with digital bank Griffin to embed savings accounts into its money management app, which is set to launch for individuals and small businesses “later this year”.
Marygold & Co preps app launch with Griffin
The interest-bearing accounts will sit alongside features including “customisable reminders, automated savings nudges, special savings pools, hidden ‘piggy bank’ options and secure me-to-me transfer technology”, according to a statement.
These features are to be delivered through Griffin’s Banking-as-a-Service (BaaS) platform, which was made available to UK fintechs for the first time in September.
Prior to this, Griffin inked a partnership with savings infrastructure start-up Sync Savings, which was founded by former Monzo executives Joss Tasker and Alex Fox.
Tasker, who serves as CEO, previously revealed to FinTech Futures that Griffin was one of the first partner banks to sign on for its cash savings APIs.
“By leveraging their core infrastructure we are able to deliver tailored savings products to a range of mass market channels,” she said, ahead of Sync Savings’ UK launch in September.
For MGUK, which is led by CEO Matthew Parden, the delivery of its money management app has been three years in the making.
Parent company The Marygold Companies (TMC), headquartered in San Clemente, US, first confirmed its intention to deliver an “all-in-one payment service” when it launched MGUK in 2021.
The $32.9 million-asset holding company initially acquired investment advisor Tiger Financial & Asset Management in 2022, in an effort to expand its UK presence, before later snapping up chartered financial planning firm Step-By-Step Financial Planners for an undisclosed sum in May this year.
