International bank Investec has become the latest bank to sign up to the Fintech Pledge.
In Brief:
Tech Nation’s Fintech Pledge is supported by HM Treasury and developed by the FinTech Delivery Panel.
It sets standards for partnerships between technology startups and scaleups and financial institutions in the UK.
Invested joins the commitment as well as six leading insurers including Admiral, Aviva and Lloyd’s.
What does this mean?
Investec joins a number of leading banks including Barclays, HSBS, Lloyds, NatWest and Santander in a commitment to increasing transparency and communication with FinTech partners.
John Elliott, Head of Fintech and Open Banking Partnerships at Investec, commented: “We are delighted to sign the Fintech Pledge, signifying Investec’s commitment to partnerships between FinTechs and financial institutions. We believe that partnerships are crucial to accelerate innovation in, digitalisation of, and access to financial services.”
In a recent interview with FinTech Alliance, Global Head of Digital and Technology Lyndon Subroyen outlined the importance of FinTech partnerships to the bank. “Core to Investec’s digital strategy is a key focus on accelerating innovation through a vibrant external ecosystem of FinTechs and other strategic partners, to keep Invested at the forefront of technology and to ensure we can adapt to our clients’ needs.
