By Aisling Finn on Friday 4 December 2020
Starling Bank customers will be able to connect an existing Nutmeg account or create a new one all from its marketplace.
Starling Bank has added another fintech to its marketplace.
The bank has joined forces with digital wealth manager Nutmeg to offer the latter’s services to personal and sole trader account holders.
Nutmeg’s integration lets customers track their pension and investment balances all within Starling’s app.
Helen Bierton, chief banking officer at Starling Bank said: “By developing smart integrations with the third-party platforms popular with our customers, such as Nutmeg, Starling is making it easier for customers to keep track of their money wherever it is located.”
Starling’s customers, both those with and without a Nutmeg account, will be able to either connect or open the investment account through Starling’s marketplace.
Customers will be able to pick from Nutmeg’s investment offerings, including fully managed and socially responsible portfolios, with a minimum investment of £500.
Matt Gatrell, chief operating officer of Nutmeg added: “We know that helping people to have a clearer picture of their full financial circumstances is crucial, and even more front of mind at the moment.”
“So, we’re pleased to be connecting with Starling, to give Nutmeg investors and Starling customers greater oversight of their finances in order to support them in reaching their financial goals.”
Late last month it was announced that Starling was the first of the digital challenger banks to break even, after generating a positive monthly operating profit of £0.8m.
Nutmeg also recently teamed up with JP Morgan Asset Management to launch a new range of investment products, including an active security selection picked by JP Morgan AM’s multi-asset team and including both passive and active equity-based ETFs.