Case Study: Nutmeg accelerates investment top-ups with TrueLayer open banking payments

In conversation with Nutmeg open banking, Covid-19 and Brexit

Nutmeg, a UK-based digital wealth manager, was facing challenges with its traditional payment methods. Bank transfers were a slow, manual process prone to user error, and card payments took days to clear, delaying customers' investments. This created operational friction and higher costs. To solve this, Nutmeg partnered with TrueLayer to implement its open banking payments solution.

By integrating TrueLayer's payment initiation service, Nutmeg significantly streamlined the deposit process. The solution reduced a lengthy manual bank transfer to just a few taps, providing a faster, simpler user experience. As a result, open banking payments now account for around a quarter of all deposits and are growing. TrueLayer also delivered significant cost savings for Nutmeg through its fixed-fee model, helping the wealth manager keep its overall fees low for customers.

Nutmeg

Charlie Masters

Product Manager