UK-based commercial bank TSB has partnered with Wealthify, an online investment service provider, to provide investment opportunities directly to its five million customers.
Wealthify is an independently operating subsidiary of Aviva, providing a simple approach to investing and available online or through app.
The new partnership announcement follows the bank’s launch of new everyday current account, dubbed Spend and Save, to enhance customers’ money confidence.
TSB said that the new partnership enables its customers to start investing with Wealthify, by following a link from the TSB app or internet banking.
TSB everyday banking products director Pella Frost said: “Our partnership with Wealthify further strengthens our digital banking offer, offers more ways to make money work harder for our customers and will help build their money confidence.”
Wealthify creates and manages investment plan on behalf of its customers
Wealthify creates and manages investment plan on behalf of its customers, who can choose the amount to be invested, preferred investment style, including ethical options.
The investment platform is said to eliminate few common barriers holding customers back, including the belief that investing is only for those who are financially sound.
Investors using the platform are offered to choose from five investment approaches according to their needs, along with options to invest ethically in organisations committed to having a positive impact on society and the environment.
Wealthify offers investment options starting from £1 and is invested using various funds that comprise a collection of investment types, including shares, bonds and property
Wealthify CEO Andy Russell said: “This partnership is about giving customers more options when it comes to their savings. At Wealthify, we are committed to ensuring anyone can build their future wealth through easy access to investing.
“We’re extremely proud to work with TSB, and to offer their customers a simple-to-use investment solution which complements their existing service, and creates opportunities to grow their savings, without the cost or complexity that comes with traditional investing.”
