TrueLayer, Wombat to offer instant investment account funding

Friday 5 March 2021 12:50 CET | News

UK-based TrueLayer, a fintech building financial infrastructure that is open to everyone has announced a new partnership with Wombat, a savings and investment platform.

Using TrueLayer’s Payments API, Wombat is now providing its customers with the ability to deposit funds into their investment accounts. After one week of launch, 82% of Wombat’s one-off deposits are now being routed through TrueLayer.

Powered by Seccl’s custody, trading, and settlement API, Wombat offers Investment ISAs, fractional share investing for UK and US stocks, and 22 curated Exchange Traded Funds (ETFs) that help investors build a portfolio that reflects their specific interests. It also encourages positive investment habits through ‘set-and-forget’ features such as monthly automated saving and round-ups.

Wombat customers have traditionally funded their accounts through bank transfers, or cards, which can take days to credit into the investment account. Now with TrueLayer’s Payments API, its customers are able to fund and build their investment portfolio differently.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: TrueLayer, API, Wombat, fintech, digital payments
Categories: Banking & Fintech | Online & Mobile Banking
Countries: United Kingdom
This article is part of category

Banking & Fintech