Case Study: Freetrade reduces unallocated deposits and boosts open banking transactions with TrueLayer

Freetrade empowering retail investors with open banking

Freetrade, a rapidly growing retail investment platform, faced significant challenges with its deposit process. Manual bank transfers were clunky and led to customer churn, while card payments were too expensive. This friction resulted in 10% of deposits being unallocated, causing high operational costs and a poor user experience. They needed a scalable payment solution to support their growth.

By implementing TrueLayer's Payments solution, Freetrade streamlined its deposit flow. This provided customers with a fast, simple way to pay and allowed for automatic allocation of funds. As a result, Freetrade reduced unallocated deposits by 70%, saw a 60% increase in the value of open banking transactions, and achieved an 18% increase in the average deposit value, enabling their next phase of growth.

Freetrade

Damon Roberts

Product Manager