Problem 

Beanstalk is reinventing how families save and invest for their children, grandchildren or even themselves. Through its app, parents can open and manage multiple JISA/ISAs, invite others, such as grandparents, to link and contribute directly to the child’s accounts and then use multiple tools, such as gift links and round ups, to add to their savings

When it came to payment rails, Beanstalk wanted to leverage Open Banking PIS methods to provide customers with a simpler and faster way to top up their accounts compared to other traditional payment methods, while making the process lower cost and easier for Beanstalk to manage.

Solution

Using Bud’s API’s, Beanstalk’s customers can now make instant top ups and see the money appear in their JISA/ISA ready for investment in just a minute or two.  Open banking initiated contributions now account for over half of all top ups.

Outcome

By implementing Bud's PIS solution, Beanstalk were able to increase conversion, reduce operational complexity, and minimise fraud risk - all at lower cost.

Want to know how Bud can help you increase ISA deposits? Get in touch today!