London-based company, TrueLayer, has entered into a partnership with Visa. As part of the agreement, Visa will also take on a minority stakeholder position in TrueLayer. TrueLayer created a developer API service for financial technology providers or other organizations that require open banking solutions.
CEO and Co-Founder of Truelayer, Francesco Simoneschi, indicated the importance of the new partnership with Visa. Simoneschi stated that the agreement will result in TrueLayer having access to a much larger network of different organizations. According to Simoneschi, working with different organizations and developing open baking services will help customers.
For Visa, the partnership will help the company look toward the future. The Visa SVP of Open Baking, Mark Nelsen, stated the agreement will connect Visa clients with emerging services.
Image Credit: TrueLayer