Fiinu PLC - Surrey-based AIM-listed fintech group formerly known as Immediate Acquisitions PLC - Reports it has selected Tuum as the core banking platform to power its Plugin Overdraft. Fiinu's Plugin Overdraft gives consumers access to an overdraft without the need to switch banks and current accounts. Fiinu said Tuum offer an example of how "open banking can be used to improve consumer outcomes in the lending sector." Tuum are an Estonian-based fintech company.
Chief Executive Officer Chris Sweeney said: "We are starting a new era in banking with our unique bank agnostic Plugin Overdraft, which offers a gateway to better financial inclusion and a welcome addition of a new product made possible through open banking. With inflation rising, the need for credit has never been greater. Our mission is to give consumers the breathing room they need through access to overdrafts that help to build credit and avoid rejection stress. Working with Tuum, we will be taking our Plugin Overdraft solution mainstream and increasing financial flexibility for consumers."
Current stock price: 14.15 pence
12-month change: down 6.5%
By Chris Dorrell; chrisdorrell@alliancenews.com
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