Stripe, a financial infrastructure platform for businesses, announced today that the life insurance and pensions company Irish Life has chosen Stripe as a strategic payments provider for its Smart Invest app.
The partnership will make it easier for Smart Invest users to initiate both one-off and top-up payments.
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 on the app 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 use Stripe to help grow their revenue and operate more efficiently. They 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 payments experience with a wide variety of payment methods including card payments and digital wallet integration. This will help us further enhance the market-leading customer experience in our Smart Invest app and 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.