UK challenger bank Starling Bank has added WealthTech Nutmeg to its marketplace.
The new deal will empowering the digital lender’s personal and sole trader customers to connect banking to their Nutmeg investment accounts and pensions.
“By developing smart integrations with the third party platforms popular with our customers, such as Nutmeg, Starling is making it easier for customers to keep track of their money wherever it is located,” said Helen Bierton, chief banking officer at Starling Bank
People with a Nutmeg account can access the company’s fully managed and socially responsible pension portfolios, with a minimum investment of £500. For the same minimum amount customers can also benefit from investments in the form of a general investment account and stocks and shares ISAs, and for a lower minimum of £100 customers can invest in a Lifetime ISA or Junior ISA for their children. There are no fees for signing up to Nutmeg, but there is a fee when an investment is made.
“We know that helping people to have a clearer picture of their full financial circumstances is crucial, and even more front of mind at the moment,” said Matt Gatrell, COO at Nutmeg.
“So, we’re pleased to be connecting with Starling, to give Nutmeg investors and Starling customers greater oversight of their finances in order to support them in reaching their financial goals.”
Starling announced that it had reached profitability in November.
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