NatWest’ send-and-receive banking payments service Payit has been adopted by Interactive Investor to make seamless transactions for its investor customers.
The online investment service will integrate NatWest Payit and harness the capabilities of Open Banking to link customer bank accounts and help fund ISAs, GIAs and Self Invested Personal Pensions.
Once connected with their bank accounts, Interactive Investor customers can use Payit to send and receive payments with no card details required and via a one-click solution. The money is then immediately credited to their investment accounts to enable investment transactions.
John Dobson, Head of Investment Solutions at Interactive Investor, commented: “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.”
NatWest Payit offers account information services to provide a more simple and secure method to share information from within their banking app. This will enable Interactive Investor customers to connect with minimal friction.
The platform also uses Strong Customer Authentication to prove an account is live and accessible, allowing sharing account information digitally in real time to remove the risk of manual error.
The option is available to all Interactive Investor customers with a bank account with access to online banking or a mobile banking app.
James Hodgson, CEO of Payit by NatWest, added: “We are delighted to be helping Interactive Investors 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 Interactive Investor customers.”
