TrueLayer and HeyTrade team up to boost investment experience in Spain

By Megha Bhattacharya

Spanish investment app HeyTrade has reportedly teamed up with UK-based open banking platform TrueLayer in a bid to deliver a new investment experience to the Spanish investors using open banking payments. The partnership will see HeyTrade’s customers use TrueLayer’s open banking infrastructure to top up their accounts instantly using the FinTech’s Payments Initiation Service.

“As an increasing number of Spanish retail customers look for ways to invest, they have high expectations for how these platforms should work. Providers that don’t offer instant deposits are missing out on an opportunity to develop a deeper and more positive relationship with their customers,” commented Francesco Simoneschi, CEO and co-founder of TrueLayer.

“That is why we’re proud to be working with HeyTrade to bring a new investor experience to the Spanish market, supporting its customers by offering faster, more secure transfers. This also marks another milestone for us as we continue to expand in Europe and we look forward to supporting HeyTrade on its growth journey.”

Founded in 2020 and launching soon, HeyTrade aims to provide all investors access to global markets, enabling users to trade over 700 US, European, and UK stocks and exchange-traded funds (ETFs).

“HeyTrade aims to facilitate investment through technology and there is no one better than TrueLayer to help us achieve this goal,” added Ramiro Martínez-Pardo, CEO and co-founder of HeyTrade. “Thanks to this alliance, HeyTrade will be able to offer investors all the facilities of real open banking. Our users will be able to open an account in under five minutes and start trading right away.”