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TrueLayer partners with HeyTrade to bring digital retail investing to Spain

Tuesday 25 May 2021 12:06 CET | News

TrueLayer, the European Open Banking platform, and digital investment platform HeyTrade have announced their collaboration to deliver a new investment experience to the Spanish investors using Open Banking payments.

HeyTrade is a new full-fledged next gen investment platform aiming to provide all investors true access to global markets. Through an easy-to-use app and open banking integrations, investors can trade over 700 US, European, and UK stocks and exchange traded funds, with additional markets and securities coming soon.

Using TrueLayer’s platform, HeyTrade’s customers can connect their primary bank account to the trading app for instant and secure funding using Payments Initiation. 

Research by YouGov and TrueLayer has shown that payments directly influence Spanish investor satisfaction. A quarter of Spanish investors said they had missed out on investment opportunities because funds didn’t appear in their accounts quickly enough, causing them to miss trading cycles. 

The research also revealed that 82% of Spanish investors agreed that instant transactions would lead them to trust an investment services provider more. Crucially, 88% of Spanish investors said they were comfortable with using instant, direct bank transfers that HeyTrade has implemented via TrueLayer to fund their investments.

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Keywords: TrueLayer, Open Banking, payment initiation, account-to-account payment
Categories: Banking & Fintech | Online & Mobile Banking
Countries: Spain
This article is part of category

Banking & Fintech