UK-based API-first bank Griffin has announced its plans to open its platform to fintech companies in the region as it finishes its early access programme, Foundations. Following the conclusion of Foundations, Griffin’s early access programme, the company is now providing its Banking-as-a-Service (BaaS) platform to UK fintechs, allowing them to embed banking products, including payments, savings, safeguarding, and client money accounts, and benefit from additional revenue opportunities across their value chain.

Launched in December 2023, the programme enabled startups and scale-ups such as Certua and Marygold & Co. to collaborate with the bank in augmenting their features and capabilities. Currently, Griffin’s product suite includes use cases in the wealth, lending, insurance, proptech, and payroll sectors.

How can UK fintechs benefit from Griffin’s platform? As of the announcement, Griffin welcomes technology businesses that aim to integrate banking or payment solutions within their customer journey, diversify their revenue streams, or simplify their operations to register their interest in the platform. Also, the bank allows them to sign up for a free, all-access sandbox to begin testing Griffin’s products. When commenting on the news, representatives from Griffin underlined that the bank has been working with several companies to support them in optimising their abilities while overall improving the financial landscape in the UK.

Being in a suitable position to open its platform to more fintech firms, Griffin intends to assist them in leveraging technology to advance their customer experience. Furthermore, Griffin highlighted its commitment to offering augmented experiences to fintech companies looking for a banking partner. The financial institution centres its efforts on including improved support for a wider range of underlying customer types, verticals, and deeper domestic payment integrations. Shortly before this announcement, Griffin, in partnership with Income Group, focused on increasing financial inclusion by expanding the latter’s service offering via the integration of the bank’s savings account into the IGsend platform.

Through this move, Income Group intended to advance its commitment to fostering and facilitating the habit of saving among its customers. .