CMC Markets offers an online and mobile trading platform, where clients can trade thousands of financial instruments across forex, indices, commodities, shares, and treasuries through contracts for difference (CFDs).
As part of its digital strategy, CMC Markets has selected TrueLayer to use its Open Banking platform to improve its client onboarding and customer payments. Open Banking can deliver more efficient and cost-effective processes for investment platforms such as CMC Markets. That begins with improving the onboarding process through verification that returns a result in seconds, rather than days, compared to manual bank statement checks. By pre-verifying customer’s details, it also simplifies payments setup meaning fewer failed transactions.
TrueLayer will also support an improved experience for CMC Markets customers when funding their investment accounts. Instant, secure account-to-account payments remove the need to enter any card or bank account details, using biometrics to authenticate and confirm the payment. Real-time payment confirmation also provides CMC Markets with assurance that every transaction has been authorised and customers have the funds available to trade.
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