Wealthify taps embedded banking platform ClearBank to power its new savings account
UK-based digital investment platform Wealthify is set to leverage ClearBank’s embedded banking service to launch a new instant-access savings account.
Wealthify partners ClearBank for embedded banking
The partnership will enable Wealthify to provide its customers with an instant savings account for the first time. The new savings product, at the time of publication, has an interest rate offering of 4.91% AER / 4.80% gross.
Established in 2016, Aviva-backed Wealthify provides customers with several investment products, such as general investment and self-invested personal pension accounts, stocks and shares ISAs, and junior ISAs, accessible via its app and web-based platform.
Commenting on the new collaboration with ClearBank, Wealthify’s CEO Andy Russell claims that the addition of a savings account product will give the company’s clients “the ability to see savings and investments all in one place – a holistic view of your finances, at your fingertips”.
ClearBank’s CEO, Charles McManus, says that the company’s embedded banking offering enables Wealthify to focus on customer service “without spending unnecessary time and resources on licenses or outsourced projects”.
Wealthify joins a growing list of companies who have tapped ClearBank for its tech in recent months, including LemFi, a financial services start-up for immigrants, and Alba Bank, a Scottish challenger for SMEs.
