Seccl, the Octopus-owned custodian and platform technology provider, has powered fintech pioneer GoHenry, with an API-powered Junior Stocks and Shares ISA.
Seccl’s API-first technology allows parents using GoHenry to create a Junior ISA for their child (aged 6 to 15 years old) in less than one minute. They can contribute as little as £1 through automatic monthly contributions, opt for one-off payments or allow friends and family to contribute to a child’s GoHenry Junior ISA using giftlinks.
GoHenry Junior ISA investments are managed by Vanguard and are FSCS protected up to the value of £85,000 (although this does not cover any decrease in value of your investment).
Seccl’s technology also offers parents using GoHenry the option of transferring funds from any existing Junior ISA or Child Trust Fund, enabling them to manage their children’s finances all in one place as part of their GoHenry membership.
Having recently announced its $55 million funding round, GoHenry selected Seccl as its new custodian, technology provider and ISA manager, helping elevate its investment proposition while making it as simple as possible for parents to start investing in their child’s future. The fast-growing firm has more than 2 million global customers, and 92% of parents say their children are more money confident as a result of using GoHenry.
Luke Carr, Chief Commercial Officer at GoHenry, shared: “As the market leaders in kids’ finance and financial education, we needed a partner we could rely on to ensure our Junior ISA met the high standards our customers have come to expect. Seccl went above and beyond to ensure the transition from our previous provider was as smooth as possible, which has been invaluable during a period of rapid growth and expansion for GoHenry.”
Mary Agbesanwa, Fintech Growth Lead at Seccl, comments: “Junior investment propositions are still a largely untapped market and the latest HMRC statistics show interest in these products is rapidly growing. GoHenry’s investments proposition is a great example of how firms can use Seccl’s technology to build hyper-customised investment journeys – in this case empowering parents and children to invest for the future.
“We first met the GoHenry team in April and had fully migrated their existing Junior ISA book from another provider by mid-September – testament to the strong partnership between their team and our technology.”
David Ferguson, CEO at Seccl, added: “Seccl’s and GoHenry’s alignment on the pivotal role that technology can play in building greater financial inclusion is what makes this partnership so successful – to see our technology play a role in helping to build financial success among young people is something I’m enormously proud of.
“This partnership is testament to what single-instance, API-first technology can achieve – allowing GoHenry to implement and migrate to Seccl’s technology with speed and simplicity.”
With its Junior ISA, GoHenry is simplifying and demystifying investment products with a content hub to help educate parents about investments, while making money management for kids, teens and parents an intuitive experience.
Investing in a Junior ISA places your capital at risk. Tax treatment depends on an individual’s circumstances and is subject to change. GoHenry’s Junior ISA investment service is provided by GoHenry Family Finance Limited which is an Appointed Representative of Resolution Compliance Limited which is authorised and regulated by the Financial Conduct Authority (FRN: 574048).