haboo money has selected Moneyhub to underpin their solution to help individuals manage and eliminate debt. This strategic decision will offer innovative Variable Recurring Payments (VRPs) through Moneyhub's Open Banking Payments API, empowering users to automate and control their debt repayment processes more flexibly.
In a financial landscape where many solutions focus primarily on wealth building, haboo money aims to help individuals overcome debt. Enhanced by Moneyhub’s capabilities, the solution will provide users with the ability to set up automated, flexible debt repayment plans tailored to their unique financial circumstances.
With many people not being paid on a monthly basis, traditional loan repayment schedules don't align with many individuals' cash flow patterns. haboo money addresses this by giving users the ability to adjust, amend, or decrease the amount and frequency of their payments. This added control helps users stay on track and avoid missing loan repayments, while still allowing for financial flexibility in the face of unexpected expenses.
Hannah Baynham, Co-founder of haboo money, said: “Since our initial interactions with Moneyhub at the beginning of haboo's journey, our shared values and ethos have been clear. They have been a fantastic supporter of haboo to date, and we are excited to take the next step in our partnership. This collaboration is crucial to enabling our platform to provide flexible, intelligent solutions for individuals managing debt, while also dramatically improving collections rates and regulatory outcomes for creditors.”
Dan Scholey, Chief Commercial Officer of Moneyhub, commented: “We are thrilled to partner with haboo money to offer an innovative solution that helps people get more from their money. haboo money is helping people improve their financial situation and needed a solution that provides the easiest-to-use experience and consistent reliability, so we are delighted that they chose Moneyhub.”
haboo money is currently live in Beta Testing and is set to go live with their pilot lending partner in the upcoming months.
About haboo money
haboo money is a UK-based fintech startup, founded in 2024, on a mission to transform the debt repayment experience by offering flexible, intelligent solutions that benefit both individuals and lenders. Leveraging open banking technology, their platform tailors repayment plans to align with each user's unique financial situation, promoting timely repayments and enhancing financial well-being. By integrating seamlessly with lenders' existing systems, haboo aims to improve collection rates and regulatory outcomes, addressing the consumer debt crisis in a meaningful way.