Trading 212 Integrates TrueLayer’s Open Banking Platform
- Open Banking
- 15.10.2020 03:33 pm
TrueLayer, the leading technology company building financial infrastructure that’s open to any business, anywhere in the world, today announced leading investment platform Trading 212 has implemented its platform to deliver an improved investment experience.
Trading 212 is a London-based fintech with a mission of democratising the financial markets by offering commission-free investing for everyone through smart and easy to use apps. After spectacular growth in 2020 Trading 212 now serves more than 700,000 customers and manages over £1 billion in client assets.
Determined to continue evolving its market-leading platform, the firm has integrated TrueLayer’s Open Banking platform to deliver a seamless experience for users.
That 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.”
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.”