By Liza Tetley on Thursday 10 February 2022
The DIY investor platform embeds TrueLayer’s open banking payments to enhance its offering.
Novel digital wealth platform Tillit has incorporated open banking provider TrueLayer’s payments into its service to make it easier for clients to add money into their investment accounts.
Tillit claims that by embedding TrueLayer’s product, customers will benefit from an improved experience when putting money into their portfolios, with secure account-to-account payments and biometric authentication removing the need to enter card or bank details.
Setting itself apart by operating a fee structure that rewards loyalty – with reductions of 0.1 per cent year-on-year, up to a minimum of 0.25 per cent – Tillit looks to simplify DIY investing and offers its customers around 100 active and passive funds on its platform.
CEO and co-founder of Tillit, Felicia Hjertman, said that the move complements the company’s primary objective to “empower everyone to invest with confidence, conviction and ease”.
Open banking platform TrueLayer powers payments, enables access to financial data, and helps onboard clients across the UK, Europe and Australia.
“As investors look to build their portfolios, they are often faced with numerous issues, including slow and inefficient payments,” added Nick Tucker, head of financial services at TrueLayer.
“[The move] creates an opportunity for [Tillit] to develop a deeper and more positive relationship with its customers.”