Following this announcement, the collaboration will allow TransferGo to leverage Griffin’s safeguarding infrastructure for its GBP wallets, as well as offer savings accounts with competitive interest rates to UK businesses.
In addition, TransferGo's multi-currency business accounts will feature Griffin-powered GBP wallets in order to ensure customer funds are safeguarded. The new easy access savings accounts will provide TransferGo’s business customers access to competitive interest rates on their working capital, as well as optimising the manner in which they turn idle funds into revenue without compromising liquidity. The accounts are expected to come with FSCS protection of up to GBP 85,000 of eligible deposits per depositor.
Griffin focuses on providing companies with the possibility to embed banking into their products quickly and safely. Its purpose-built APIs and all-access developer sandbox were designed to improve the way customers build and launch payment platforms, financial wellness apps, as well as client account products, and business loans.TransferGo represents a global fintech company that aims to help individuals and businesses make the best of their money.
According to the official press release, TransferGo will continue to provide its business clients with efficient and profit-friendly international money management solutions. At the same time, the GBP wallets and savings were developed in order to give business owners and managers more freedom to send and receive payments, leverage the benefits of a local IBAN, access same-day transfers, and gain optimised and secure control over their finances.
The partnership with Griffin will enable TransferGo to provide secure banking infrastructure for their GBP wallets and savings accounts. In addition, both companies will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
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