We’re delighted to announce that InvestEngine has partnered with TrueLayer to power its variable recurring payments (VRPs). The next big innovation in UK payment technology, VRPs allow for seamless and secure transfers between an investor’s accounts.
The technology will be utilised to help our customers set up their Savings Plans, investing on their own schedule with none of the friction, for investing that’s never been easier. Through TrueLayer and VRPs, our clients can automatically top up weekly, fortnightly or monthly, without having to renew the mandate. Once the money is added to the portfolio via VRPs, our platform can then automatically invest it based on the client’s chosen portfolio weights, for a seamless, effortless experience.
Our Co-founder and Managing Director, Andrey Dobrynin, said about the partnership: “By partnering with TrueLayer on our new Savings Plans, we’re bringing the latest innovations in payments to the world of investing, overcoming the biggest pain points people experience, and making it easier for everyone to grow their wealth.”
By utilising VRPs, we’ll be able to create a more developed ecosystem where people can save more effectively towards a secure financial future, and where the industry in the UK can progress to not only meet but surpass the success of savings plans that we’ve seen elsewhere in Europe. We can’t wait to see what our community does with the new tool!