Open banking business TrueLayer and savings app Chip have partnered.
In Brief:
The pair will collaborate to improve the savings experience on Chip.
It will be easier to make account payments, at higher speed.
Transaction fees associated with cards and mobile payments will be removed.
What does this mean?
With TrueLayer, Chip will be able to secure bank connectivity, analyse data and make recommendations to users.
The decision, reportedly under discussion with the UK government, aligns with the UK’s efforts to attract global tech firms
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