Griffin opens up BaaS platform to UK FinTechs

By Gloria Methri

Griffin Bank is opening its Banking-as-a-Service (BaaS) platform to UK FinTechs as it concludes its early access programme, Foundations. As a licensed bank and BaaS provider, Griffin enables companies to seamlessly embed banking products like payments, savings, safeguarding and client money accounts.

Foundations launched in December 2023, and scale-ups and start-ups like Certua and Marygold & Co. worked closely with the bank to refine key features and capabilities. Griffin’s product suite now spans use cases in the wealth, lending, insurance, PropTech and payroll sectors.

Griffin invites mission-driven technology businesses that want to embed banking or payment solutions within their customer journey, diversify their revenue streams, or streamline their operations to register their interest. Companies can already sign up for a free, all-access sandbox to start testing Griffin’s products immediately.

David Jarvis, co-founder and CEO of Griffin, said, “Over the last few months we’ve been fortunate to work with a few innovative companies in helping them to realise the future of finance. I’m delighted to say that we’re now able to open Griffin’s platform to anyone who has a vision for using finance to improve the lives of their customers and is looking for a bank to help them achieve that vision.”

Griffin’s banking products are helping businesses in the insurance sector, like Certua, to simplify operational complexities. The bank is also enabling companies like Income Group to offer entirely new products to their customers alongside other complementary offerings. Griffin also recently partnered with Sync Savings, a start-up focused on delivering savings products across a wide range of markets, including lending, payroll, and wealth management.

Matthew Parden, CEO UK at Marygold & Co., added, “Griffin’s products have provided a unique opportunity for Marygold to launch a savings and financial management app that recognises the complexities of human behaviour and emotional intelligence. The team has built a superior banking product that takes into account the entire customer journey and the intricacies of compliance.”

Earlier this year, Griffin announced a $24 million funding round and became a fully operational UK bank following a successful mobilisation period.