Interactive investor (ii) has rolled out Payit, NatWest’s open banking payment solution, to simplify and enhance the customer payment experience.
Through this partnership, ii customers can now link their bank accounts directly and fund their ISAs, GIAs, and SIPPs seamlessly via the ii website and app.
Payit™ eliminates the need for traditional card payments, offering a fully digital alternative that removes the necessity for One Time Passcodes or manual input of card details. This new functionality is powered by open banking technology, ensuring no sensitive customer information is stored by third parties. Funds are credited instantly, allowing investments to be made without delays—a crucial feature in time-sensitive financial markets.
The integration of Payit™ on the ii platform utilises Account Information Services (AIS) to provide real-time authentication and frictionless payment processing. Customers with access to online or mobile banking can enjoy one-click payments into their investment accounts, reducing potential errors and improving user experience. This secure solution also leverages Strong Customer Authentication to verify account access, enhancing overall transaction security.
James Hodgson, CEO of Payit™ by NatWest, said, “We are delighted to be helping interactive investor leverage the benefits of open banking through Payit to streamline and simplify the online experience for their investors. Payit’s safe and secure platform provides a flexible and seamless way for people to make payments directly from their bank accounts and it’s possible with minimal IT integration or disruption. Timing can be an important factor when making investments, so moving funds immediately in real time will improve the experience for many ii customers.”
John Dobson, head of investment solutions at interactive investor, added, “We are delighted to be partnering with Payit by NatWest and welcome its launch on our platform. At interactive investor, we’re constantly innovating and developing solutions to ensure our investors have a smooth journey on our platform, and Payit is a fantastic addition here. It’s a straightforward, efficient, and secure service – one that will make life easier for many of our customers.”
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