London (UK). TrueLayer, Europe’s leading open banking platform, today announces that innovative investment platform Tillit has implemented its open banking Payments API to deliver an enhanced investor experience.
Founded by former Baillie Gifford employees - investment manager Felicia Hjertman and software developer Paul O’Neill - Tillit is looking to simplify DIY investing. It offers around 100 handpicked funds on the platform, both active and passive, which its Investment Committee has selected based on Tillit’s unique fund selection manifesto. It also offers an innovative and transparent fee structure that rewards customer loyalty and long-term investing.
To complement its mission to “empower everyone to invest with confidence, conviction and ease”, Tillit has now implemented open banking payments through TrueLayer’s market leading Payments API.
With TrueLayer embedded in the Tillit platform, customers benefit from an improved experience when funding their investment accounts. Instant, secure account-to-account payments remove the need to enter any card or bank account details. Instead, customers simply select the ‘Pay with my Bank’ option, authenticate their identity with biometrics, and confirm the payment. To further improve the experience, returning customers who used TrueLayer will see the payment option displayed as the bank they used, for example ‘Pay with HSBC’, to deposit additional funds.
Felicia Hjertman, CEO and co-founder of Tillit commented: “We founded Tillit because we believe private investors deserve a better experience. We want to empower everyone to invest in what we believe to be best-in-class funds with confidence, conviction and ease. A key part of this is the ability to seamlessly fund one’s investment account. The integration of open banking payments through TrueLayer aligns perfectly to our ethos of making investing easy, accessible and transparent. It is faster, more secure and gives our customers an enhanced experience.”
Nick Tucker, Head of Financial Services at TrueLayer, added: “As investors look to build their portfolios, they are often faced with numerous issues, including slow and inefficient payments. Tillit is a new entrant looking to do things differently, from its handpicked funds through to a fee structure that rewards loyalty. It recognised that TrueLayer’s open banking platform can deliver a seamless, secure payments experience that also creates an opportunity for it to develop a deeper and more positive relationship with its customers. We look forward to building on our collaboration in the coming months as the Tillit platform continues on its journey to help people invest for the long term with confidence.”