Marygold & Co has partnered with banking as a service (BaaS) provider Griffin bank to facilitate the roll out of savings accounts on its money management platform.

The partnership said the move will bring a range of personalised wealth-building tools to Marygold’s customers in the UK when it launches later this year.

Marygold & Co. says its app draws on behavioural insights to help users better manage their money. It also has features including customisable reminders, automated savings, nudges and hidden “piggy bank” options.

The company added that the app has safety features to help with financial oversight for elderly and vulnerable customers.

Through the platform, small businesses will also have access to competitive interest rates on their working capital and cash, which Griffin said will help them to maximise returns on idle funds and better manage their finances.

“Our work with Marygold & Co. is a classic example of how Griffin works with FinTechs in bringing best-in-class products to market,” said David Jarvis, co-founder and chief executive at Griffin. “Marygold & Co.'s vision to provide secure, dependable and intuitive wealth-building tools aligns perfectly with this and we're excited to support their growth journey.”

In March, Griffin was awarded a full UK banking licence by the Financial Conduct Authority and the Prudential Regulation Authority.

The move allowed the company to launch as a fully operational bank after last year being given a restricted licence which only allowed it to operate as a banking entity within certain parameters.

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