This website may use cookies to ensure you get the best experience on our website. Read more about our privacy policy here
Making Your Cash Work Harder For You
Take control of your cash and put it to work as an investment
Diversify your holdings across higher savings products with no additional risk
Our
What We Do
OpenML is an Open Finance data, intelligence, and payments platform.
Our technology revolutionises the growing DIY cash marketplace and cash management industry.
OpenML fills an advice gap that improves outcomes for savers.
IFAs can now understand their clients’ income and expenditure beyond what is available from banking statements
The company has developed software based on artificial intelligence (AI) models. It provides an onboarding & financial prediction system in near real-time for IFA firms in the UK
Our platform overcomes the disincentives of traditional retail depositors to switch their savings into higher earning deposits
The intuitive adviser tool provides visibility of client accounts in one place and optimises deposit allocations instantly
Our History & Ambition
OpenML has evolved from a white labelled open architecture SaaS partner of an existing investment based D2C platform
Our ambition is to become a stand-alone whole-of-market proposition, branded as a DIY retail cash platform for advisers
OpenML will be regulated as an investment firm and payment services firm with permissions to provide advice on investments and payment services
Our Technology
OpenML is building cash deposit software (CDS)
Our technology revolutionises the growing DIY cash marketplace and cash management industry.
OpenML fills an advice gap that improves outcomes for savers.
Our software will be built into systems that allow retail customers to manage cash deposits across a panel of banks
OpenML will manage mass volume, individual retail customer accounts
The business will attract aggregated deposits to a wide base of FSCS/DGS guaranteed challengers of the dominant banking institutions
The software will be licensed to regulated distributors and adviser firms
At its core, our CDS offers a search engine and prediction system for financial advisers aimed at understanding the finances of their growing class of mass affluent clients
The system completes the required fact-find an adviser must undertake before being able to advise their clients – a 3 hour manual exchange is condensed into under 60 seconds through full automation
Advanced analytics (AA) machine learning (ML) models identify and estimate an individual’s income & expenditure and changes in financial circumstances over an expected lifetime in near real-time
It captures, categorises and predicts, every type of client account action that ultimately results in a cash movement, beyond pensions, investments, loans, mortgages, and property
At its core, our CDS offers a search engine and prediction system for financial advisers aimed at understanding the finances of their growing class of mass affluent clients
The system completes the required fact-find an adviser must undertake before being able to advise their clients – a 3 hour manual exchange is condensed into under 60 seconds through full automation
Advanced analytics (AA) machine learning (ML) models identify and estimate an individual’s income & expenditure and changes in financial circumstances over an expected lifetime in near real-time
It captures, categorises and predicts, every type of client account action that ultimately results in a cash movement, beyond pensions, investments, loans, mortgages, and property
OpenML disrupts the traditional cash deposit market place
With on average 30% of household financial assets in currency and cash, the majority of which is deposited with the top 4 UK banks, our CDS will disrupt this market in two ways.
By connecting multiple bank accounts and previewing income & expenditure activity, a financial adviser can engage in a dialogue about cash with their customer
This is necessary intelligence to further help guide their customers on their journey of investment and wealth management
Moreover, the adviser can help their client understand and implement an efficient diversification of cash deposits across competing deposit takers beyond the incumbent banks
The adviser receives alerts that prompt when cash can be deployed and simultaneously compares rates on savings products available in the market across currencies
This optimises deposit allocations instantly with a view of the client’s anticipated liquidity needs over the medium to longer term
OpenML is a digitally native company
Our technology and intellectual property (IP) is wholly cloud hosted, designed as an open architecture platform with specifications that are both public and proprietary, intended to make adding, updating, and exchanging components easy for our partners
Application programming interfaces (APIs) are the connective heart that enables controlled access to services (products and data). Connected to major software products, APIs allow the basic functionalities of major software to be modified and extended
Our applications consume APIs in order to access consent-driven financial data via Open Banking. Through our own APIs, we offer Open Finance data search, categorisation and prediction software to our partners
Alex Jackson
Unit 12, 10-11 Archer Street
London
W1D 7AZ
United Kingdom
Privacy Policy
© OpenML Limited 2024