Transforming brokerage with Stake

Wealth management

Founded in 2017, Stake is a global brokerage app that gives users from across the world direct access to trade US stocks. Traditionally, investing in the US has been difficult and expensive for those outside of America.

“There are lots of forms to fill out and brokerage fees are high, making it really difficult for most people to trade,” said Bryan Wilmot, Global Head of Marketing at Stake. “We aim to eliminate all of these problems.”

Results


Instant
Settlement

of funds

0.5%
One-off

FX Margin

400%
Increase

in transaction volume



The Challenge

A core part of Stake’s value proposition is removing the cost and complexity associated with trading US stocks, without removing any of the sophistication users desire. Unsatisfied with traditional methods like bank transfers and card payments - which can take days to settle, are prone to human error, and charge expensive interchange fees - the team at Stake decided to look for an open banking based solution.

Slow processing times make it difficult for people to make nimble investments

so finding a partner that could enable instant settlement was extremely important for us.

Dan Silver
COO and Co-founder
Stake

The Solution

Partnering with TrueLayer, Stake decided to integrate the Payments API to facilitate bank-to-bank payments, which meant users could top up and access funds instantly, in real-time, without having to enter card details or share their bank credentials.

Now, when making a funding decision on Stake, users decide the amount in GBP they want to fund into USD. When ready to transfer, users are redirected to their bank to authenticate the transaction, reducing the risk of fraud. This process takes seconds and users’ credentials are never shared with anyone but their bank.

Partnering with TrueLayer allows us to use its game-changing Payments API to improve the experience for our Stake community

something we’re always looking to do. We’re all about breaking down barriers between global investors and the US stock market, and Payments Initiations will enable faster transfers without even having to leave the app.

Matt Leibowitz
CEO and Co-founder
Stake

The Results

Leveraging the Payments API, Stake’s users now benefit from quicker, and crucially, highly secure bank transfers, allowing them to make faster decisions which are critical for successful investors. Because TrueLayer charges a low fixed-fee per transaction, regardless of the amount, Stake is able to save on fees and pass these savings back to their users.

0.5%

competitive, one-off
FX margin

Fast

instant settlement
of funds

400%

increase in trade volume since introducing TrueLayer

The highly secure and streamlined transfer process means our users have the total control over their finances they deserve.

Having recently brought Stake to the UK, we’re thrilled to be working with another disruptive player in the UK fintech space to enhance Open Banking and help UK investors trade up.

Matt Leibowitz
CEO and Co-founder
Stake
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