TrueLayer’s open banking platform to boost investment experience for Trading 212
By Megha Bhattacharya
TrueLayer today announced that investment platform Trading 212 has implemented its platform to deliver an improved investment and user experience. The implementation begins with the data API delivering the rapid identification and verification of a user’s primary bank and connecting it to the Trading 212 app. From inside the app, the payments API means users can then quickly and securely fund their investment account, using Payments Initiation.
Francesco Simoneschi, CEO and co-Founder of TrueLayer, commented, “Retail investing is booming and Trading 212 has been at the forefront, lowering the barriers to entry and making the UK market more accessible. 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.”
London-based FinTech Trading 212 aims to democratise the financial markets by offering commission-free investing. Trading 212 now serves more than 700,000 customers and manages over £1 billion in client assets.
Nick Saunders, CEO of Trading 212, commented, “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.”
Recently, TrueLayer announced the extension of its partnership with the digital smart open banking app sync. The collaboration is expected to facilitate the launch of smart banking in France and Ireland.
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