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Wednesday, February 15, 2023
HomeTipsTrading 212 picks TrueLayer to assist energy its funding platform

Trading 212 picks TrueLayer to assist energy its funding platform


Savings and Investment

Customers will now be capable to fund their investments within the Trading 212 app by way of TrueLayer’s monetary API.

Image supply: Francesco Simoneschi/TrueLayer.

Investment app Trading 212 has built-in monetary API supplier TrueLayer’s open banking-powered know-how to its buying and selling platform.

The new integration will create a seamless funding expertise for Trading 212’s clients, enhancing its commission-free funding platform for its 700,000 clients.

Francesco Simoneschi, CEO and co-founder of TrueLayer, stated: “A new generation of investors are used to seamless digital experiences in every aspect of their lives, and now expect that in their financial services providers.”

“By integrating our open banking platform, Trading 212 has enhanced its offering to meet those expectations by offering its customers a dramatically improved account set up and funding experience, enabling them to invest with confidence.”

TrueLayer’s API will present speedy identification and verification for Trading 212’s clients permitting them to attach their financial institution accounts to the buying and selling platform and fund their account utilizing Payment Initiation.

Nick Saunders, CEO of Trading 212, added: “The ability to fund accounts instantly and securely is critical for our users. TrueLayer enabled us to offer such experience even for bank deposits.”

“Our users no longer need to do manual wire transfers and wait a day or more before funds arrive in their Trading 212 account.”

The London-based fintech has cashed in on the funding increase that we skilled underneath lockdown, with the funding platform now managing over £1bn in consumer property. 

TrueLayer has additionally capitalised on the latest open banking increase, which once more could be attributed to the pandemic, having partnered with a number of excessive profile fintechs.

The monetary API supplier has helped open banking-powered app sync. broaden into a number of European international locations, together with Spain, Ireland and France.

TrueLayer’s open banking integration with Revolut has additionally enabled the digital banking platform to deepen its presence in France, Ireland, Italy and broaden a number of Revolut Business integrations.

The open banking fintech additionally struck a cope with the federal government in June to allow TrueLayer to supply public sector organisations with its Payment Initiation Service (PIS) by way of the federal government’s Payment Acceptance Framework.

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