Griffin opens platform, invites fintechs to test banking services

Griffin, a UK-based bank specialising in services for fintech companies, has announced that it is moving its platform to general availability.

This transition follows the conclusion of its early access programme, dubbed Foundations. As a licensed UK bank and Banking-as-a-Service (BaaS) provider, Griffin facilitates the integration of banking products such as payments, savings, safeguarding, and client money accounts into various companies' operations.

The Foundations programme, launched in December 2023, involved collaboration with several scale-ups and start-ups, including Certua and Marygold & Co. Through this programme, these businesses worked with Griffin to refine its products and features. The bank's current offerings cater to sectors such as wealth management, lending, insurance, proptech, and payroll.

David Jarvis, co-founder and CEO of Griffin, commented, “Over the last few months we’ve been fortunate to work with a number of innovative companies in helping them to realise the future of finance. I’m delighted to say that we’re now in a position to open Griffin’s platform to anyone who has a vision for using finance to improve the lives of their customers and is looking for a bank to help them achieve that vision.”

Griffin is actively inviting technology-driven companies looking to incorporate banking or payment solutions into their customer experiences, diversify revenue streams, or enhance operations to register their interest. A free, all-access sandbox is available for companies to begin testing Griffin’s products immediately.

Griffin's services are benefitting companies in various sectors. For instance, businesses in the insurance space, like Certua, have utilised Griffin’s banking products to streamline operational complexities. The bank has also enabled companies like Income Group to introduce entirely new products to their customers. Additionally, Griffin has partnered with Sync Savings, a startup that provides savings products in markets including lending, payroll, and wealth management.

Matthew Parden, CEO UK at Marygold & Co, noted the advantages of working with Griffin, stating, “Griffin’s products have provided a unique opportunity for Marygold to launch a savings and financial management app that recognises the complexities of human behaviour and emotional intelligence. The team has built a superior banking product that takes into account the entire customer journey and the intricacies of compliance.”

Griffin aims to maintain a high standard of service for fintechs looking for banking partners by expanding support for a broader range of customer types, sectors, and enhancing domestic payment integrations. The bank achieved B Corp certification, reflecting its commitment to sustainability and ethical business practices. Earlier in the year, Griffin raised $24 million in a funding round and completed its mobilisation period to become a fully operational UK bank.