Trustly and Avanza Bank partnership: 12 months of simplifying investing for 100,000 customers

In just one year, the partnership between the Swedish FinTech company Trustly and digital bank Avanza has hit some significant milestones. Over 100,000 Avanza customers have so far used Trustly’s real-time deposit service from both mobile and desktop platforms to top up their Avanza accounts. Currently SEK 900 million (EUR 102 million) of real-time deposits are done through Trustly every month and the service has led to a 7% increase in Avanza’s activation rate which corresponds to a net inflow of SEK 750 million (EUR 76.7 million) per year.

By simplifying the deposit experience, Trustly has facilitated a seamless on-boarding experience and provided a much quicker customer activation process. With Trustly’s solution, the deposit settlement time has shrunk from over four hours to 10 seconds. Meanwhile, the number of new customers depositing money on day one has almost tripled.

Johan Prom, CEO of Avanza commented: “We always strive to make it easier for our customers to use our offer. Thanks to Trustly, they can now get started with investing their savings without any hassle and in a matter of seconds.”

Oscar Berglund, CEO of Trustly said: “Our goal since inception has been to make online payments using the bank account simple and more relevant for consumers. We are proud to help Avanza provide their customers with the best possible user experience.”

The service supports deposits to Avanza from Handelsbanken, Nordea, SEB, Swedbank and Danske Bank. Login and signing can be done with all bank authentication methods, including Mobile BankID.