Trading 212 integrates TrueLayer’s open banking platform
UK-based digital stockbroker firm, Trading 212, is integrating TrueLayer’s open banking platform on its app.
The data application programming interface (API) aims to deliver “rapid identification and verification” of a user’s primary bank and connect it to the Trading 212 app.
The API allows users to quickly and securely fund their investment account, using payments initiation.
“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,” says Francesco Simoneschi, CEO and co-founder of TrueLayer.
Nick Saunders, CEO of Trading 212, comments: “The ability to fund accounts instantly and securely is critical for our users. TrueLayer enabled us to offer such an 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”.
Founded in 2016, TrueLayer provides global financial connectivity through open APIs.
It is backed by leading venture capital including Tencent, Temasek, Northzone, Anthemis, Mouro Capital and Connect Ventures.
The fintech infrastructure firm announced an additional $25 million in funding under its Series C round in September.