TrueLayer and sync. partner up on Spanish expansion
London-based open banking app sync. has partnered with fintech infrastructure firm TrueLayer to expand its multi-account offering.
The fintech dashboard aims to provide “every aspect” of a user’s financial life in one application.
The sync. app moved into beta earlier this month after the firm successfully completed an initial funding round, raising £5.5 million.
It planned a March launch, but the coronavirus pandemic pushed the date back. The start-up says it has used the lost time to test its app.
Users can also spend via a sync. bank account connected to a debit card.
The accounts are provided by OpenPayd through its electronic money licence from the Financial Conduct Authority (FCA).
The card is powered by Global Processing Services, and issued by Transact Payments Limited pursuant to licence by Mastercard.
Through its partnership with TrueLayer, it will provide a single view across a user’s different bank accounts.
The deal is powering an expansion into Spain for sync. It plans to give customers of BBVA, Banco Santander, and Caixabank access to its dashboard.
TrueLayer is also supporting sync. with account-to-account payments, enabling users to send money “to anyone, anywhere, without having to enter card details.”
“Syncing all your finances to manage your money in one app is at the heart of what we do, and TrueLayer enables us to give that vital information to our users,” says Ricky Lee, sync. CEO.
“We are looking to expand our Open Banking offering massively in the upcoming weeks and months with more banks, credit card companies and countries.”