* True Potential has partnered with NatWest to bring Payit(TM), NatWest's award-winning way to send and receive payments instantly via Open Banking

* True Potential clients can now link their preferred bank account to True Potential - allowing real time transfers to then fund accounts

* The technology offers a digital alternative to card payments that streamlines the payment journey whilst offering more security

True Potential has rolled out NatWest's multi award-winning[1] payments and data solution Payit(TM)[2], further enhancing True Potential's impulseSave® offering.

impulseSave® is True Potential's award-winning, first-of-its-kind technology that helps clients add money to their accounts in an instant. And with Payit(TM), clients will now have an additional way to deposit funds swiftly and securely, either by app or online, allowing for real time transfers to then fund accounts.

The capability allows clients to link to multiple nominated bank accounts as an additional payment method, via Open Banking. That facilitates seamless and more secure payments into their ISA (Individual Savings Account), GIA (General Investment Account) or personal pension[3] - removing frictions, including the time-consuming need for entering card details, and restricting payment from any third-party accounts to help prevent fraud.

Additional benefits include:

* Speed: Payit(TM) directly opens the client's banking app of choice and allows them to select the appropriate bank account to pay with. Transactions are completed quickly and securely, with funds sent immediately.

* Simple and secure: As there is no need for card details to be stored by a third party, the risk of online fraud is minimised, allowing both the business and customer peace of mind.

* Cash flow management: Instant availability of funds is essential for businesses managing cash flow.

* Reduced transaction costs for the business.

The proposition will be available to all True Potential clients with access to participating banks' online banking or a mobile banking app.

Ritu Sehgal, head of transaction services and trade at NatWest, comments:

"We are delighted to work with True Potential as they leverage the benefits of open banking through Payit(TM) to improve a clients payment journey. Our secure platform offers a flexible and seamless way for clients to make payments directly from their bank accounts with minimal IT integration or disruption. Real time transfers significantly enhance the investment experience for many clients."

Richard Taylor, Head of Operations for the True Potential Platform, comments:

"Partnering with NatWest to bring Payit(TM) to True Potential platform clients is another positive step we're taking to help more people do more with their money. Building on our long-standing proprietary impulseSave® technology, integrating with Payit(TM) makes the process of adding to investments from £1 even faster and more secure for clients."

Payit(TM)'s use of Strong Customer Authentication proves the account is live and accessible, while sharing account information removes the risk of manual error.

As Open Banking is underpinned by an immediate faster payment from the clients directly into a dedicated client monies account ensures that Payit(TM) merchants are compliant with Client Assets Sourcebook (CASS) regulations through immediate receipt of funds and appropriate reconciliation.

Recent collaborations with interactive investor (ii) and Parmenion strengthen Payit(TM)'s role as a key open banking provider in the wealth sector.

This is being communicated to you as an investment professional as specified in Article 19 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005. The information contained in here is for professional financial advisers and should not be relied upon by any other persons.

-- ENDS --

References

[1] 2023 Banking Tech Project Awards Best Use of Tech in Payments, Best Open Banking Initiative at Payment Awards 2024.

[2] You will need to sign up to Payit(TM) terms and conditions and you may need to hold an account with us. Your business must be based and trading in the UK with a turnover above £2M. You must be 18 years or older. Fees are based on the volume and average value of transactions.

[3] TPI Pension and ISA eligibility and tax rules apply.

Notes to Editors

For more information, please contact Stephanie Melrose in the NatWest press office, stephanie.melrose@natwest.com , 07966 212 576

About Payit(TM)

Payit(TM) is a multi-award winning NatWest Open Banking solution, here to help businesses and customers benefit from the next generation of payments and data services.

Payit(TM) from NatWest enables banks to talk directly to each other, so you can send and receive payments and bank-certified data securely and in real time. www.payitbynatwest.com

About True Potential

Based in Newcastle upon Tyne, True Potential has established itself as one of the UK's leading wealth managers over the past decade and a half, delivering positive investment performance, managing over £34 billion of in assets and becoming a trusted home to over 590,000 clients.

True Potential is focused on empowering its clients to manage their wealth with expert financial advice, innovative products, excellent client service and award-winning technology.

True Potential's tech-based approach enables financial advisers to support more clients to save and invest for their long-term goals, whether that's a comfortable retirement, paying off their mortgage, covering university fees or just enjoying more of life.

True Potential's clients are at the heart of everything it does and the business believes this is well demonstrated with an 'Excellent' rating on Trustpilot based on over 13,000 reviews.

True Potential Investments LLP is authorised and regulated by the Financial Conduct Authority, FRN 527444. www.fca.org.uk. Registered in England and Wales as a Limited Liability Partnership No. OC356027.

ENDS