TrueLayer and Stake announce API integration

Financial API provider TrueLayer, has today announced a partnership with Australian online brokerage app Stake.

The collaboration is one of the first of its kind in the brokerage market and will let Stake’s customers make transfers from their bank account without leaving the Stake app.

TrueLayer’s API payment platform was the first in Europe to enable Payment Initiation and was mandated by the EU’s Second Payment Services Directive (PSD2) regulation.

Francesco Simeoneschi, CEO and co-founder of TrueLayer, said: “Facilitating financial transactions and payment flows will be the largest use case for Open Banking.”

“By leveraging Payments Initiation, Stake’s customers will benefit from quicker, and crucially, highly secure bank transfers. It allows them to make faster decisions which are critical for successful investors.”

Matt Leibowitz, CEO and co-founder of Stake, added: “The highly secure and streamlined transfer process means our users have the total control over their finances they deserve.” 

“Having recently brought Stake to the UK, we’re thrilled to be working with another disruptive player in the UK fintech space to enhance Open Banking and help UK investors trade up.”

The news comes after the London-based API provider announced last month that it partnered with Revolut to build the digital bank’s Open Banking platform.

Stake also announced in January the launch of the beta version of its UK app and launched the full version of its app in February of this year.