AMP Advice partners with Frollo to enhance clients access to open banking

By Leandra Monteiro

Frollo announced a partnership with AMP Advice to give financial advisers, mortgage brokers, and its clients access to Open Banking technology and its money management app.

With this collaboration, AMP’s advisers and brokers can now include Frollo’s Money Management Service in their license package and offer clients a practice-branded version of the app.

This way, clients can use the technology to gain a clear understanding of their finances and benefit from Frollo’s money management features, like spending visualizations, loan details, budgeting, financial goals, and smart insights.

Matt Lawler, AMP Adviser Director said, “Our partnership with Frollo is part of AMP’s strategy to partner with leading FinTechs to provide best-in-breed technology solutions to customers, advisers and brokers. Frollo’s technology streamlines the advice process and provides more opportunities for advisers to help their clients. Importantly, the tech platform also sets clients and advisers up to take full advantage of open banking as it evolves into other financial products in the coming years.”

The platform allows Advisers and Brokers to access their client’s financial information and circumstances in a secure and user-friendly way. This makes the advice process easier and more efficient by eliminating the need for clients to manually provide data. Additionally, Advisers and Brokers can monitor their client’s financial situation over time, which helps identify opportunities to add value.

Frollo, Chief Commercial Officer, Simon Docherty said, “This partnership validates what we’ve been saying for a while now, that the Trusted Adviser Model will drive a lot of the adoption in Open Banking this year. Financial advisers and mortgage brokers are close to their clients and have a real need for efficient and secure sharing of financial information.”

“We’re excited that AMP is innovating and offering our Money Management app and Partner Portal to their network, as it helps them build a stronger relationship with their clients and be more proactive with their advice.”