Stripe, a financial infrastructure platform for businesses, has announced that life insurance and pensions company Irish Life has chosen Stripe as its strategic payments provider for its Smart Invest app.
The partnership will make it easier for Smart Invest users to initiate one-off and top-up payments within the app.
Irish Life launched Smart Invest in 2021 to make it easy for people to invest and track the performance of their investments. The app makes investing more accessible by allowing users to get started with as little as €100 in their accounts. Smart Invest also appeals to people who want to invest more responsibly by providing access to investment funds that support the planet.
Stripe will facilitate investments through its payments platform and Stripe Billing while safely storing the payment details of Irish Life’s Smart Invest customers. Stripe Radar will detect and prevent fraud using machine-learning algorithms that train on data across billions of global transactions. Smart Invest will also use Stripe Connect to enable client fund segregation, which will simplify its core financial operations.
Irish Life joins tens of thousands of Irish businesses that are using Stripe to help grow their revenue and operate more efficiently. Those companies range from tech unicorns like Flipdish and Wayflyer to heritage brands like Foxford and McNutt of Donegal.
“Our partnership with Stripe helps give our customers a world-class payment experience with a wide variety of payment methods including card payments and digital wallet integration. This will help us to further enhance our market-leading customer experience for our Smart Invest app and to continue to grow our business,” said Shane Carroll, digital product lead at Irish Life.
“We’re proud to be partnering with Irish Life on Smart Invest to help them enhance both their user experience and their operational efficiency. In the current macroeconomic climate, we are more focused than ever on helping Ireland’s leading businesses increase their revenue and innovate faster,” said Eileen O’Mara, global head of sales at Stripe.
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