Wealthify embeds Open Banking from Tink in investment app
UK robo advisory platform Wealthify is using payment initiation services from Tink to enable users to load and top-up investment funds without leaving the app.
In June 2020, Wealthify became a wholly owned subsidiary of insurance and investment giant Aviva and is set to double its 50,000 investors in the coming year. Starting out as a stocks, shares and general investment accounts platform, it has since expanded into ethical investments, junior stocks and shares ISAs and self-invested personal pensions.
Rafa Plantier, UK and Ireland country manager at Tink, says: “This is a significant partnership for Tink in the UK. Payment initiation services, as part of the wider Open Banking movement, gives businesses the ability to create low-cost, uninterrupted transaction journeys that can lead to better conversion rates.”
This new partnership follows Tink’s €85 million investment round at the end of 2020, laying the foundations for the firm’s roll-out of payment initiation services across Europe.