UK-based Open Banking API supplier, TrueLayer has opened up its platform for helping any particular person or enterprise in the course of the COVID-19 outbreak. The FinTech goals to supply options for “streamlining processes, decreasing prices and enabling improvements the place it’s wanted essentially the most.”
TrueLayer’s Founder Francesco Simoneschi mentioned in a weblog publish, “At TrueLayer, we’ve been pondering of ways in which we will put our experience and expertise to work to assist help our neighborhood and economic system. We’re specialists in working Open Banking, and our platform powers a spread of use circumstances that assist to scale back guide, in-person processes — from identification verification to funds.”
TrueLayer has acknowledged just a few concepts and use circumstances that it could possibly help together with the verification of monetary want, charities, cashless funds, speedy onboarding and identification validation, and so on. The Open Banking resolution can digitally confirm an individual’s monetary want and assist governments and corporations to ship focused help, which is particularly useful for self-employed or those with variable sources of earnings. The answer can allow charities to obtain instantaneous donations with out incurring card interchange charges and might substitute money funds with a digital different. It might additionally assist confirm identification and checking account particulars digitally.
The FinTech additionally agreed to assist authorities businesses, charities, healthcare suppliers, app builders, hackers by sharing experience and expertise freed from value for decreasing the affect of COVID-19.
Just lately, TrueLayer partnered with ANNA Cash to supply the cardboard and admin FinTech with Fee Initiation, an API for immediate QR code funds.