Sydney / Melbourne: Leading financial data aggregation platform Moneytree and Australia’s first independent choice-of-fund service for employees Roll-it Super, today announced a partnership that will allow users of Roll-it Super to view all their financial accounts across providers in one place.
Roll-it Super is a new platform service for Australian companies that provides a super fund investment comparison and switching tool, to empower employees to join high performing funds. As part of the partnership between the two fintech companies, Moneytree will provide API infrastructure that will enable Roll-it Super users to gather all their financial accounts in one place in a secure and highly private way. The data aggregation solution powered by Moneytree won’t share it with the employer or any unauthorised third parties.
“Accessing banking and super information from one place in a single login is a feature entirely for the benefit of Roll-it Super users. With this, they’ll be able to better understand their financial position and review their income, spending and saving patterns overtime,” he added.
Commenting on the partnership, Moneytree Founder, CTO and Executive Director for Australia, Ross Sharrott said: “We’re delighted to commence our partnership with Roll-It Super. We are a supporter of their mission to empower people to make better informed decisions about their super, and not leave this important decision to a default alternative that doesn’t match their situation.”
“Finding the right superannuation fund is extremely important and can have a significant impact on people’s retirement. We view Roll-it Super as a natural partner in our mission to help people understand their financial position across all their accounts to take action and ultimately be better off,” he added.
Leveraging different capabilities
Both Moneytree and Roll-it Super are resident companies at the fintech hub Stone & Chalk in Sydney and Melbourne. Through the hub’s network, the two companies learned about each other’s mission and capabilities and decided to form a partnership in 2018.
“After our initial conversation with Moneytree, we quickly realised the value of their offering for users of Roll-it Super. Once we learned about their privacy and security policies, we decided they were the right fit for us,” said Mr MacLeod.
“Roll-it Super is helping people to make sense of a sea of information in the superannuation sector, which is a very daunting process if done manually. We are very happy to partner with companies making a difference and Roll-it Super is certainly one of them,” said Mr Sharrott.
Commenting on the announcement, Alex Scandurra, Chief Executive Officer at Stone & Chalk, said: “The partnership between Moneytree and Roll-it Super is living proof that startups and scaleups don’t have a mindset of acting in isolation, but rather leveraging each other’s capabilities and expertise to collaborate on an even better solution for their customers.
“The good news is this way of doing business is spreading to the traditional financial services sector helping substantially de-risk collaboration between startups/scaleups and incumbents. Startups in Australia are partnering with incumbents in ways that were not foreseen five years ago. We believe the future for all industries will see more organisations partnering with startups to increase the pace of transformation and to inject much needed innovation to ultimately deliver a better product and/or solution for customers and better outcomes for shareholders,” he added.
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Moneytree is a financial data aggregation and portability platform, comprised of a personal financial management app, and a user-permissioned API feed of customer data for financial institutions. Available in Australia and Japan, Moneytree’s free app enables individuals to have a full view of their financial position, contributing to better management of their personal finances, and helping to maintain their financial wellbeing.
Moneytree’s solution for financial institutions, Moneytree Link, was launched in Japan in 2015. It currently has over 45 enterprise customers in that market, including Japanese megabanks Mizuho Bank Ltd and Sumitomo Mitsui Banking Corporation, seven top-ranked regional banks and ten leading accounting service providers. Roll-it Super is Moneytree Link’s first enterprise partner in the Australian market, with more to follow.
About Roll-it Super
Roll-it Super is not another Australian super fund. Founded by Mark MacLeod in 2018, Roll-it Super is an independent and unbiased choice-of-fund platform that works with employers to financially empower their employees, assisting them in making the best super fund choice for a healthier financial future.
Moneytree is a fintech company founded in 2012 in Japan and started providing Moneytree, a PFM (Personal Finance Management) service which enables people to manage financial assets in a single place since 2013, contributing to better management of their personal finances, and helping to maintain financial wellbeing. In 2015, Moneytree launched Moneytree LINK, the financial data platform for businesses, and it has been recognized as the standard API in financial and accounting industries. In 2017, Moneytree entered the Australian market. Moneytree received investment by Salesforce.com, the venture capital arms of all three Japanese mega banks, SBI Investment, the venture capital arms of regional financial institutions and major international investment companies. Moneytree’s goal is to build a most trusted data platform.
Moneytree LINK is a data aggregation and portability platform for financial institutions. Moneytree LINK has more than 60 enterprise partners in Japan, including the Japanese megabanks and many of the top-rated regional banks, as well as the leading accounting service providers. In Australia, Salesforce and Rollit Wealth are Moneytree LINK’s first enterprise partners, with more to follow, helping Australian financial institutions prepare for the introduction of Open Banking with its strategic enterprise-wide Open Banking solution.
Moneytree Financial Technology Pty Ltd
CEO Paul Chapman
Capital: 2.56 Billion Yen including capital reserve as of April 2020
Founded: April 23, 2012
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Tel: 0416 236 293