By Aisling Finn on Tuesday 28 April 2020
The app will charge a flat £20 fee to customers rather than take a percentage of an investment.
London-based wealth management app ikigai has today announced a partnership with financial fraud platform TruNarrative ahead of its imminent launch.
ikigai was founded by two former McKinsey associates and hopes to combine everyday banking with an in-app wealth management platform.
Users will be able to track spending and investments all in one app and, unlike its rivals, ikigai will only charge customers a £20 flat fee to use the platform, rather than take a percentage of their investments.
Using TruNarrative’s single API will help ikigai track customer accounts, payments and screen for risks both for transactions and ongoing monitoring.
Ina Browning, vice president of operations at ikigai, said: "We are excited to partner with TruNarrative so our customers can experience a fast and frictionless onboarding process.”
“TruNarrative will help us ensure that our customers’ investments and accounts are safe and protected from financial crime,” she added.
A date for the official launch is not yet set in stone, but when ikigai launches it plans to offer a Visa-backed card alongside its wealth management app.