The fintech is harnessing Seccl’s custody, trading and settlement API to build the hotly-anticipated Investment Platform.
Chip, the award-winning savings app, has selected the custodian and investment technology provider, Seccl, to power its soon-to-launch Investment Platform.
By integrating directly with Seccl via API, Chip’s Investment Platform will provide users with simple and affordable access to financial markets. Seccl will act as custodian and ISA manager for the new investment proposition, safeguarding users’ cash and assets, while its API will also handle the trading and settling of investments – allowing users to create and fund accounts, before routing orders to the market.
The Chip Investment Platform is due to launch to the general public in April 2021 and will be the latest addition to Chip’s suite of wealth-building tools. In the past year, the fintech has introduced a host of new features aimed at helping users to save and grow their money, such as Chip+1, Investment Accounts and Payday Put Away, and is now gearing up to enter the investment market.
Simon Rabin, Founder and CEO of Chip, commented: “I can see a lot of similarities between Chip and Seccl when it comes to our approach to building products - we are both ambitious, agile and nimble. Things can move very slowly in the world of finance, but we were determined to bring our customers investment products as soon as possible to answer their need for more democratised wealth-building tools - all without compromising on customer experience and value proposition. Seccl’s technology has allowed us to do exactly that and will further enable us to expand our Investment Platform offering in the future.”
Dan Marsh, Head of Customer at Seccl, added: “Traditional technology has tended to make launching a new investment proposition slow and expensive – two traits that go against everything that Chip stands for as an energetic, empowering and fast-moving fintech. We’re delighted that our API has helped to break down these barriers to entry, by supporting Chip in getting to market fast – and are really excited to be powering what we’re sure will be a massively valuable platform for Chip’s fast-growing user base.”
– Ends –