Priya PatelTLDR:
- UK-based fintech Open Banking provider Tell Money supports Griffin Bank’s launch with tell.gateway
- Tell Money aims to ensure Griffin’s adherence to PSD2 legislation and enhance user experience through Open Banking integration
In a recent development, Tell Money has decided to support Griffin Bank’s launch in the fintech sector by providing crucial compliance and Open Banking capabilities through their tell.gateway service. This support comes after Tell Money secured a USD 24 million funding round and obtained a full banking license.
The collaboration aims to help Griffin Bank establish itself as a fully operational UK Bank aimed at assisting companies in developing and launching financial products. By leveraging Tell Money’s tell.gateway service, Griffin will be able to ensure compliance with Payment Services Directive 2 (PSD2) legislation, enabling seamless integration of PSD2-compliant APIs for Third Party Providers (TPPs).
The partnership between Tell Money and Griffin highlights a commitment to growth in the Banking-as-a-Service (BaaS) market, emphasizing innovation, compliance, and operational support. This collaboration is expected to enhance Griffin’s platform development and service delivery to its clients.
In addition to this partnership, Tell Money had previously collaborated with crypto banking platform Colossos to expand Open Banking capabilities, enabling efficient investment in the cryptocurrency sector. The collaboration with Colossos showcased Tell Money’s commitment to innovation, compliance, and cost-effectiveness in supporting an open ecosystem.
