Tandem taps TrueLayer for account aggregation
TrueLayer, Europe’s leading provider of financial APIs, has announced it is working with challenger bank Tandem.
The integration supports all major European banks and challengers such as Monzo, Revolut and Starling Bank. Tandem app users will be able to login directly to authorise which banks they would like to synchronise and can revoke permission at any time.
By using TrueLayer’s platform of Open Banking APIs, account information will be updated quickly and securely directly from Tandem, enabling users to see all their financial information on one app.
Tandem is a digital bank built on data. It uses AI driven insights for a personalised banking experience. Tandem gives customers full control of their finances through their banking app which aggregates bank accounts and analyses activity with AI. With market-leading features such as Autosavings, which automates the savings process to encourage the habit, data capability is at the forefront of Tandem’s offering.
Francesco Simoneschi, CEO and co-Founder of TrueLayer, said: “Tandem is an incredibly popular and innovative challenger bank which, as a result of this partnership, will be able to offer even more great services to its customers. We are delighted to work with Tandem’s team and look forward to seeing how they will use Open Banking to further enhance their offering.
“This partnership is another important milestone in the growth of the Open Banking economy. By working together we’re delivering on a critical aspect of Open Banking – delivering more choice, innovation and better financial services for consumers and businesses.”
Paul Clark, Chief Technology Officer at Tandem, said: “We differentiate ourselves with our with a unique user experience, digitising personal banking. With TrueLayer we can strengthen our accounts aggregation, opening up opportunities for more customer insights and in the end helping them manage their money every day. That is what Tandem is all about.”
TrueLayer’s partnership is its latest milestone in 2019 with the recent expansion to Australia, partnership with Visa and the announcement of a $35 million funding round led by Tencent and Temasek. In the past 18 months, TrueLayer has expanded across Europe to Germany, France, Italy and Spain, launched payment initiation capabilities and partnered with companies including Zopa, Emma, ClearScore, Plum, CreditLadder, Canopy, and ANNA Money.