Swedish investment platform SAVR has integrated Brite Payments’ instant payments offering to enable customers to make larger direct money transfers into their accounts more quickly and with improved security.
Through the Brite Instant Payments integration, SAVR’s users can use BankID to authenticate direct transfers of larger amounts of money than was previously possible and eliminates the need for manual data entry.
According to Stockholm-based Brite Payments, its authentication solution ‘Single Sign’ helps users to pay up to 40% faster than standard account-to-account payments.
Fund trading platform SAVR offers 1,700 funds at “reduced” prices and now has more than 100,000 users, having been founded in 2019.
Lena Hackelöer, founder and CEO of Brite Payments
Later this year, SAVR intends to launch stock and exchange-traded funds trading.
“SAVR’s vision is to provide our customers with a state-of-the-art investment platform where it is effortless for them to manage their investments,” said Daniel Aarenstrup, chief executive officer and co-founder of SAVR.
“Brite Payments ticks all of our users’ high expectations on speed, usability and security when it comes to instant deposits — enabling them to have easy access to their assets and to make quick decisions on the financial markets.”
Brite Payments launched its proprietary instant payments network to enable instant payments and payouts in Europe via Open Banking, back in May 2023.
Research by Brite published this year revealed that 42% of regular Pay by Bank users in Europe opt for the payment method because of speed, while 59% cite security as a factor in determining their choice of payment method for online purchases and 54% identified ease of use.
“We’re excited to offer SAVR’s fast-growing user base a quicker and more convenient way to top up their accounts, backed by the security of BankID,” said Lena Hackelöer, founder and chief executive officer of Brite Payments.
“SAVR has quickly established itself as one of Sweden’s most popular investment platforms – now with Brite Instant Payments, users will also benefit from instant direct money transfers that require only top-of-mind information.”
