" class="no-js "lang="en-US"> TrueLayer and withdrawals for UK broker ETX Capital
Friday, January 27, 2023
Saltedge Report

TrueLayer delivers instant deposits and withdrawals for UK broker ETX Capital

TrueLayer, Europe’s leading open banking platform, and ETX Capital today announce the award-winning broker has implemented its payments platform to deliver instant deposits and withdrawals for customers.

ETX Capital is an FCA-regulated broker providing institutional, high net worth and retail customers with multi-asset and multi-market derivative dealing capability through CFDs. Using TrueLayer’s payments platform, ETX Capital customers can seamlessly verify bank account information using biometric methods, and connect to the trading app for instant and secure funding using Payments Initiation in just a few seconds.

This improved process means traders can now fund their account with confidence and make timely investment decisions by getting their money to market more efficiently.  TrueLayer’s platform is white labelled using the ETX Capital brand and the customer’s chosen bank, rather than a third party brand, which helps to increase trust and confidence as the trading platform owns the end-to-end payment process within its app.

TrueLayer is also delivering a more efficient withdrawal process for ETX Capital customers. While cards and bank transfers can leave investors waiting, taking anywhere from a few days to a few hours, TrueLayer provides instant withdrawals, direct to the customer’s bank account.

Research by YouGov and TrueLayer has shown that payments heavily influence investor satisfaction. Almost two thirds (64%) of current and prospective investors are more likely to trust a provider that offers instant payments. While almost half of current investors (46%) said they were likely to switch providers if that service also offered instant withdrawals.

“Open banking provides vast opportunities for us to continue to develop exceptional client experiences at ETX, we are excited to be working with TrueLayer to provide clients with instant access to their money and the financial markets by offering instant payments into and out of their trading accounts,” commented Kayleigh Lewis, Chief Operating Officer at ETX Capital. “The payments space is continually evolving and we want to offer the most progressive and secure technology to enhance our user experience. Clients are at the centre of everything we do at ETX and we will continue to work with partners like TrueLayer to revolutionise the products and services we offer.

Nick Tucker, Head of Financial Services at TrueLayer, added: “With open banking, payments now present an opportunity for firms to differentiate and drive customer loyalty. Providers that don’t offer instant deposits and withdrawals are missing out on an opportunity to develop a deeper and more positive relationship with their customers. It’s exciting to see progressive firms such as ETX Capital embracing open banking and, with TrueLayer, deliver a more compelling customer experience.”

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