TSB said it has launched a new partnership with Aviva’s Wealthify “which will make investment opportunities directly available to TSB’s five million customers.”
TSB said it is responding to customer demand and changing consumer behaviour “with two in five (40%) people having prioritised their money more during lockdown.”
“TSB customers can now start investing with Wealthify by following a link from the TSB app or internet banking,” said TSB.
“Wealthify makes investing accessible to customers and breaks down some of the common barriers holding customers back, such as the belief that investing is only for those who are financially well off.
“Investors using the Wealthify platform can choose from five investment approaches to suit their needs, from cautious through to adventurous.
“Across all of these, Wealthify offers options to invest ethically in organisations which, like TSB, are committed to having a positive impact on society and the environment.
“Investment options start from just £1 and money is invested using a number of funds, that contain a collection of investment types, such as shares, bonds and property …
“Wealthify is surging in popularity and has seen an 85 percent growth over the year, with more than 30,000 active customers.”
Pella Frost, Director of Everyday Banking Products at TSB, said: “Our partnership with Wealthify further strengthens our digital banking offer, offers more ways to make money work harder for our customers and will help build their money confidence.”
Wealthify CEO Andy Russell said: “This partnership is about giving customers more options when it comes to their savings.
“At Wealthify, we are committed to ensuring anyone can build their future wealth through easy access to investing.
“We’re extremely proud to work with TSB, and to offer their customers a simple-to-use investment solution which complements their existing service, and creates opportunities to grow their savings, without the cost or complexity that comes with traditional investing.”