Blackhawk Network taps Moneyhub for compliance and open banking solutions

From: RegTech Analyst

Payment provider Blackhawk Network has picked open finance data and intelligence platform Moneyhub to deliver its compliance with the open banking standards.

Through the deal, Blackhawk Network is said to be able to establish a secure and robust platform that adheres to the highest industry standards.

Moneyhub’s technology is also said to enable Blackhawk Network to validate third-party providers (TPPs) to access consent driven user data and initiate payments, meaning that it can immediately provide connectivity to third parties through live applications.

“Using Moneyhub’s compliance solution means that we can adopt the industry best-practice approach to PSD2, in authorising our unique prepaid card offering,” said Stacey Richards, director of product management at Blackhawk Network. “We share the fundamental desire to deliver a transformative experience for the end-user with Moneyhub, and we look forward to working with the team to deliver on our ambitious vision for the future.”

Dave Tonge, CTO at Moneyhub, added, “Our open banking expertise means that we are able to deliver a comprehensive compliance solution to Blackhawk Network, ensuring that it remains a leader in the market and delivers excellence to current and future clients. Our growing product offering and the multi-use nature of our proposition means that we are able to work alongside Blackhawk Network and help support their growth and aspirations.”

Moneyhub recently inked a similar partnership with financial advisor Wealth Wizards.

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