UK-based financial services company Virgin Money has collaborated with Mastercard to integrate open banking technology into its credit card app.
This initiative will provide customers with a comprehensive view of their finances.
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The partnership provides Virgin Money’s customers with the convenience of managing their transactions in one place.
These customers can now see their credit card and current account balances and transactions from multiple providers on the Virgin Money credit card app.
Mastercard open banking APEMEA executive vice president Valerie Nowak said: “We’re proud to provide Virgin Money with open banking solutions that fuel their continued efforts to deliver cutting-edge financial tools.
“This partnership shows the power of open banking and its ability to create connected, user-friendly, and embedded financial services that make people’s lives easier.”
Virgin Money, which is part of the Nationwide Building Society since October 2024, has over 6.6 million retail and business customers across the UK.
It offers a range of products including current accounts, credit cards, savings, investments, mortgages, pensions, and loans.
Virgin Money unsecured lending head Katherine Lovell said: “We’re thrilled to collaborate with Mastercard to make it easier for credit card customers to access information about their non-Virgin Money credit cards and current accounts through Virgin Money’s credit card app.
“Open Banking is an exciting opportunity to make it easier for people to manage their finances and we’re delighted to work with Mastercard to introduce and evolve this feature for over two million credit card customers who interact with us digitally every month.”
In June 2024, Virgin Money announced the expansion of its AI-powered virtual assistant, Redi, to more customers.
The intuitive chat feature is available 24/7 for personal banking customers managing their current accounts through the app, building on its success with credit card users since its launch in March 2023.
