Brite Payments, a provider of open banking-based instant payments, announced that SAVR, one of Sweden’s most innovative investment platforms, has integrated Brite Instant Payments, enabling customers to make larger direct money transfers into their accounts both quickly and securely.
SAVR is a Swedish fund trading platform “offering 1,700 popular funds at reduced prices. Due to their innovative transparent pricing model, the Stockholm-based company has scaled to over 100,000 users.”
With the launch of stock and ETF trading planned for later this year, SAVR will “evolve into a full-scale investment platform.”
Through Brite Instant Payments, SAVR’s customers can “use BankID to authenticate direct transfers of larger sums of money than previously possible into their accounts, reducing the need for manual data entry, and speeding up the time it takes to complete payment.”
User experience is optimised “with Brite’s ‘Single Sign’, a mobile-friendly authentication solution proven to help users pay up to 40% faster than standard account-to-account (A2A) payment flows.”
Brite Instant Payments is underpinned by Brite’s proprietary instant payments network – Brite IPN – which utilizes “the European open banking infrastructure to process payments 24/7/365.”
Online trading platforms have surged in popularity “over the past few years, with an ever-expanding range of financial investment options.”
In a competitive space, speed and innovation “are all-important for those seeking to become the category leaders.”
Brite Payments is a Stockholm-headquartered fintech “establishing itself as a leader in account-to-account (A2A) payments, also known as ‘Pay by Bank’.”
Gaining traction with consumers and businesses across Europe, A2A payments offer wide-ranging benefits and advantages “over legacy payment methods, including mitigation of fraud risk and elimination of chargebacks, enhanced security, and reduced operational costs.”
As noted in the update, Brite Payments is a second-generation fintech based in Stockholm. The instant payments provider “leverages open banking technology to process account-to-account (A2A) payments in real time between consumers and online merchants.”
With Brite, no signup or credit card details are required “as consumers authenticate themselves with top-of-mind details using their bank’s usual identification method.”
Brite is connected to more than 3,800 banks “within the EU, and its offering is currently available in 27 markets across Europe.”