Griffin provides a banking-as-a-service platform that enables companies to integrate financial services directly into their products through a simple API. This solution addresses the complexities of regulatory compliance and infrastructure management, allowing businesses to enhance customer engagement and streamline financial operations.
Funding
$64.5M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
+5Founders
Product
Problem
Many companies face complexities in integrating financial services into their products due to regulatory compliance, infrastructure management, and the need to build and maintain secure banking systems. This often diverts resources from core business activities and hinders innovation in financial product offerings.
Solution
Griffin offers a banking-as-a-service (BaaS) platform that allows businesses to embed financial services directly into their products via a simple API. By providing secure, regulated infrastructure, Griffin removes the complexities of building and maintaining a banking system, enabling companies to focus on enhancing customer engagement and streamlining financial operations. The platform offers a range of products, including safeguarding accounts, client money accounts, embedded savings accounts, and flexible operational accounts, all accessible through a unified API. Griffin also provides tools for automating KYC and financial crime prevention checks, ensuring compliance and security.
Target Audience
Griffin's primary customers include payments platforms, proptech and wealthtech companies, financial wellness apps, and small business financing providers looking to embed financial services into their offerings.
Features
- Purpose-built API using JSON over REST for easy integration
- Safeguarding accounts for ringfencing customer money in compliance with regulations
- Client money accounts for managing client funds in compliance with CMP, CASS, and SRA regulations
- Embedded savings accounts to help customers grow their money with interest-bearing accounts
- Griffin accounts for flexible, API-driven operational accounts with complex money management needs
- Payments via FPS for UK domestic transfers, with Bacs, CHAPS, and Direct Debit coming soon
- Verify: Automate KYC and financial crime prevention checks
- Immutable architecture based on a durable event log for core banking system
- Cloud-native infrastructure for scalability and resilience
- Free sandbox environment for testing and development