Integration with WealthSimple


#1

I’m a fan of Wealth Simple. Just realized by your IG post that there is a soon to come integration with marketplace. Can you give us some pointers in what to expect?

Thanks,


#2

Of course! So, in the next few weeks, WealthSimple will become available in the Starling Marketplace - in the Marketplace portion of the Starling app under the Savings & Investments category. If you choose to add WealthSimple, you will then be taken into the WealthSimple app to either setup an account (if you’re a new customer), or if you’re an existing customer, to grant WealthSimple permission to share your data into Starling so you can see your WealthSimple Balance in Starling. Once you’ve connected WealthSimple, you’ll be able to see it in Starling like so:

Let me know if that helps!


#3

What is wealth simple?


#4

That looks awesome @Megan_Caywood !

Do you know if there are plans to support direct credit from Starling into a wealthsimple account through that api integration as well (some sort of easy way of transferring funds between wealthsimple and starling without having to enter in payment details).


#5

This is elegant.


#6

There are! The Marketplace is developing in stages, but we will soon be working to enable users to be able to do simple actions like “Add Money” from their Starling account into a Marketplace partner like WealthSimple.

To explain in a bit more detail, today’s release was the MVP for financial products, where we simply enable users to connect PensionBee to Starling to see their Pension balance in Starling. Next, we’ll be adding in WealthSimple, Habito, and Kasko under this model. Then, these partners - WealthSimple (and the others) - will integrate the Starling API so Starling users that are new to the provider will be able to seamlessly authorise Starling to share their info across to WealthSimple, for example, (e.g. name, date of birth, email, etc) to make setup in WealthSimple shorter and easier as Starling can auto-populate that info. Then, the next stage will be to add simple actions into the Starling Marketplace, like an “Add Money” function from Starling (or “Make Claim” in the case of insurance), so users can easily transfer funds from Starling into WealthSimple. That will be rolling out over the course of the coming months, and then after that we’ll be adding even more fun things in, so stay tuned!


#7

Wealthsimple is an investment app. Here’s their website: https://www.wealthsimple.com/en-gb/

Also, here’s the info you’ll soon find on the Wealthsimple description page in Starling once they’re available in the Marketplace, which gives more detail:

"Wealthsimple makes professional investing simple and affordable by combining smart technology with expert human advice. Our aim is to bring smart financial services to everyone regardless of their age, income or investing experience.

- Investing on Autopilot: In just 5 minutes we’ll use Nobel-prize winning investment principles to build you a personalised, low-cost investment portfolio
- Humans & Technology: We’ve won back-to-back Webby Awards for the world’s best financial services platform by placing an emphasis on keeping our platform as simple as possible. You never need to talk to a human but if you want to, we have a team of accredited investment advisers readily available by phone or email.
- Different account types: open an ISA, JISA and/or a General Investment Account.
- £1 account minimums: begin with as little or as much as you want
- Low and transparent fees: we only charge 0.7% and never charge trading, account transfer or rebalancing fees. You can see exactly how much you’re paying at any time on the app or website.
- Safety & Security: Over 50,000 clients have trusted us with more than £1 billion so far. Your money is held securely by a third party custodian and protected by the FSCS."


#8

Thanks for the info


#9

Did integration of wealth simple happen? I don’t see them in the marketplace?


#10

@Megan_Caywood any plans for wealth simple to be coming to marketplace as not in there yet?


#11

On 26th April it was said.

As we promised back in February, we’re pleased to announce that Wealthsimple, an online investment platform, will also be available in the Starling Marketplace in the next couple of days, offering savings accounts and ISAs with a £1000 minimum deposit to get started.

That’s only 4 working days ago, so in theory it should be here any day soon.


#12

@daedal thanks again


#13

Hi all, you’ll be glad to know we added Wealthsimple into the Marketplace just this morning :tada::tada:

Let us know what you think and any feedback, its not a 2-way integration like Wealthify just yet (so they don’t use our API to help pre-populate their signup process) but we’re hoping this should happen in the next few months!


#14

Just linked my wealth simple account to my Starling account, can now see my investment through the starling app :+1::+1::+1::+1::+1::+1::+1:


#15

Hey @Gallifreyangirl - just checking that you saw it went live last week!

This is the first version of the integration in which users can connect Wealthsimple and see their Wealthsimple balance in Starling. We’ll be expanding it out in the future, with Wealthsimple integrating the Starling API so that new users can authorise Starling to share across their data to pre-populate sign-up (E.g. Full name, Email address, Phone number, Address, Account Number and Sort Code - like the current experience with Wealthify in Starling!). Then, we’ll add more Wealthsimple data in Starling so customers can see details like “Total Growth” and enable customers to add money to Wealthsimple with a couple of taps from within Starling, something like this:

Hope that helps! Let us know if you have any feedback :slight_smile:


#16

@Megan_Caywood thanks for letting me know.


#17

Megan, this looks good, when is it likely to be available for Wealthify?


#18

Glad you’re excited about it!

We don’t have a specific ETA for it yet, but to give you a sense of the timeline for how the integrations are evolving, I’ll outline how we’re rolling these out:

First, we’re focusing on adding more partners to the Marketplace, with a minimum of a one-way API integration in which they share high-level data, e.g. Total Balance, into Starling - this is the type of integration Wealthsimple and Pensionbee currently have, for example.

Next, we’re working with each of those partners to move from a V1, one-way integration to a two-way integration in which they also integrate the Starling API to enable new users to sign-up more easily, which is how Wealthify already works in Starling. This means that when a new customer clicks “Add” from the Marketplace then Starling can ask the customer if they’re willing to share their Starling data with the partner (e.g. name, email, address) to pre-populate sign-up with the partner, making it easier and faster to access products discovered in the Starling Marketplace.

After we have more partners in the Marketplace and each are up and running with a two-way API integration, then we’ll start working to expand out the data that each displays in Starling (as seen above) and the features for each (e.g. being able to add money to Wealthsimple from within Starling or being able to easily move money from a Starling Savings Goal into a Wealthsimple ISA, for example).

We’re working hard on it, so once we have a clearer timeline for it then I’ll definitely let you know! :slight_smile: