Why We Launched an App in the UK and What It Means for You
This article is for the UK market only.
Reading time: 3 minutes 15 seconds
Summer 2021 saw a milestone achievement in our journey to revolutionise halal investing – the launch of the Wahed Invest app in the UK on Apple’s App Store and Google Play.
This was always part of our product roadmap. As one of the few regulated companies offering halal investment in the UK’s Fintech space, we want to tell you why the app is important to our mission to make halal investing simple.
Why did we launch an app and what does it mean for you?
1. It’s far easier to use
To revolutionise halal investing, we need to offer the easiest and most streamlined technology available. Empires weren’t built overnight and nor were apps like this.
It’s more important than ever to be able to get things done whilst on the move, which is why you can see a visual of your account performance in one glance of your phone screen.
Withdrawing and investing funds into your account, changing your risk portfolio and adding a new account are now all possible within the app. You can set goals and access your statements to see a detailed view of where your money has been invested.
Our UK website portal used to be enabled by a partner organisation but our app now allows us to offer you the above directly. This enables us to build features that our customers want so that they can manage their portfolios with ease on the go.
2. The future is open banking. We’re bringing it to you
Have you heard of ‘open banking’? Maybe not, but you most likely have heard of ‘challenger banks’ such as Monzo and Starling. These were able to shake up retail banking choices because of a change in UK law in 2018. This change allowed traditional banks to share their data with digital financial service providers.
In short, the law now allows traditional banks to share your banking data and transaction history with authorised and regulated alternatives so that there is greater choice in the financial industry for you, the consumer. These new offerings are clever, help you understand your money usage better and give you more control than before.
Open banking is why you can now deposit money into your Wahed portfolio from your bank seamlessly, and this is the level of ease we want to offer. We’re working on offering an awesome alternative so that your Wahed Invest app can be your chosen halal investment and banking service rolled into one.
Keep an eye out for this and other products we’re working on such as Junior ISA accounts for children under 18 and our pension products to make sure your pension is in trustworthy and halal hands.
Did we mention the future looks bright?
3. Our focus as a company is on the service we provide to you
Since we were founded in 2017 Wahed Invest has grown tremendously. We now have 11 subsidiary entities with more than 100 employees across 9 regulatory licenses.
We want to focus our talent on the holistic investment and banking service app we’d like to offer you. Being able to pool our creativity, talent and expertise into one app means building a future for everyone who believes in halal and ethical investing.
We have great dreams of what Wahed Invest will mean to the world. Revolutionising halal investing is the mission we’ve taken on and we hope you’ll join us for the journey!
Have you downloaded our app yet? If not, head over to the below links to start your halal investment journey with us.
Risk Warning: As with any investment, a Wahed Invest Ltd investment puts your money at risk, as the value of your investment can go down as well as up. The tax treatment of your investment will depend on your individual circumstances and may change in the future. If you are unsure about whether investing is right for you, please seek expert financial advice.
Wahed Invest Ltd is registered in England and Wales (Company No. 10829012). Registered office: 50 Liverpool Street, London, EC2M 7PY, UK.