Salt Bank has partnered with German fintech Upvest to launch a new feature called Salt Investments, which will enable in-app securities trading capabilities for users in Romania, as well as direct access to international capital markets.
Formerly known as Idea Bank, Salt Bank provides both retail and business banking services as the wholly owned digital subsidiary of Banca Transilvania Financial Group. The challenger launched in the middle of last year using Starling Bank’s Banking-as-a-Service technology platform Engine, and claims to have amassed over 500,000 customers within its first year of operations.
In an attempt to increase its appeal further, Salt Bank has selected Upvest’s Investment API, which features a range of cross-asset class investment options, such as stocks, ETFs and digital assets, and will support Salt Investments with portfolio management, order processing, and regulatory compliance.
A joint statement at launch confirms that the new investment service is now available to Salt Bank users in Romania, with “additional features and expansion of the offering planned after the initial go-live”.
Upvest, which is backed by BlackRock, Motive Ventures and Hedosophia, among others, was also previously selected in August to power European investment services for Openbank, the digital banking subsidiary of Santander.
Source: https://www.fintechfutures.com/
