BaaS provider Bondsmith becomes principal member of Visa network

By Gloria Methri

Bondsmith, the cash management and savings solutions provider has become a principal member of Visa to further its mission of improving the wealth management industry through embedded banking services.

“Super-apps” and FinTechs are gradually increasing their market share in the wealth management industry and incumbent wealth management institutions need to innovate to retain assets and attract the next generation of investors.

Now a principal member of Visa in the UK, and associate member in New Zealand, Bondsmith will be providing white labelled Visa debit cards for their wealth management clients. This gives clients the ability to offer payment accounts to their customers, expanding their propositions beyond investments and into transactional banking.

Michael Doyle, Founder, and CEO of Bondsmith said, “Our vision is to bring embedded banking to the wealth management industry to enable holistic financial management and planning. We are thrilled to be working with Visa and leveraging their secure global network to bring this new solution to our clients, helping them innovate and improve their customer offerings.”

Claire Dopson, Head of New Business Development at Visa said, “FinTech companies play a crucial role in driving innovations that meet specific consumer demand. We are delighted that Bondsmith has become a principal member of the Visa network, to enable access to embedded banking in the wealth management industry.”