Vivid Money launches together with solarisBank and Visa in Germany
Berlin – 08.06.2020. Vivid Money, the mobile banking platform to spend, save and invest, today announces its launch together with solarisBank, the tech company with a banking license, and Visa in Germany.
The Berlin-based company aims to help people to make more of their money by combining the all-in-one mobile-first approach with a full-service package. Using the Vivid Money app, users can open an account for free in just a few minutes and manage their finances simply and intuitively via their smartphone. With their account comes a free anonymized metal Visa debit card for secure payments and cash withdrawals. In addition to a classic bank account, Vivid Money also offers numerous services that help customers to manage and grow their money securely and conveniently. These include cashback programs, sub-accounts in foreign currencies and, in the near future, investment products. Germany is the first and, for the time being, the only market in which the Vivid Standard and Vivid Prime products will be available. Expansion into other European countries is planned for the near future. Vivid Money is working together with solarisBank, which provides the fully licensed Banking-as-a-Service platform, and with Visa as an exclusive payment technology partner for Europe.
"We are living in a time when people are receiving no or even negative interest rates for their deposits and high transactional costs. Even today, they are still suffering from poor service in banking and investing. With Vivid Money, we want to change this. We enable our customers to organize their financial life easily, securely and in all its different facets – from spending to investing – all in one app and individually tailored to their needs. We want to educate our customers how to grow their money, providing them with the right tools to save automatically. With Vivid Money, they have numerous options to grow their wealth without having to open a separate account or deposit account with different providers for each service. This way, they can easily start with stock trading and start to take control over their financial lives."
"We are excited to welcome Vivid Money as our newest partner. By trusting our proven banking-as-a-service platform, Vivid Money is well prepared to conquer the European banking market. With our modular approach and an easy-to-integrate, scalable infrastructure we reduce time to market significantly and enable Vivid Money to compose an attractive offering that allows them to grow fast."
„We are proud to be the exclusive launch partner for Vivid in Europe and to support their entry into the German market. The payment behavior in Germany is currently changing rapidly – consumers increasingly want to pay digitally – mobile and contactless. This is why the launch of the mobile-first Visa Debit card by Vivid comes exactly at the right point in time. I am convinced that the joint product proposition by Visa, Vivid, and solarisBank will further drive the adaptation of digital payments in Germany."
List of services that Vivid Money offers:
- Free current account with German IBAN, fully covered up to 100.000 Euro by deposit guarantee scheme
- Three-month trial membership of Vivid Prime without automatic renewal, including a free metal VISA debit card that can be used even after the trial membership expires
- Virtual cards for safe online shopping
- Free bank transfers
- Free cash withdrawals worldwide of up to 200 euros (Vivid Standard) / 1,000 euros (Vivid Prime)
- Cashback on purchases of up to 10% at numerous stores online and offline up to a maximum of 20 euros per month
- Increase cashback with the Stock-Reward-Program up to a total of 20 Euro
- Free pockets (group of accounts) to manage your money separately, each with its own German IBAN in over 100 currencies
- Smart analytics on your spendings and savings and budgeting tools
- Contactless payments with Google Pay and soon Apple Pay
- Currency exchange with no fees at a live exchange rate
About Vivid Money
Vivid Money is the first financial service platform that combines all your daily money needs in one app. Whether it’s spending, saving, or investing – Vivid Money offers an easy, flexible, and transparent solution to grow your money. The company's mission is to provide customers throughout Europe with a superior banking and investment experience and to offer a wide range of financial services (including savings accounts, multi-currency accounts and stock exchange) without unnecessary fees. Vivid Money was founded in 2019 by Artem Yamanov and Alexander Emeshev in Berlin and consists of an international, highly qualified team of more than 130 employees. TCS Group Holding PLC, a leading provider of online financial and lifestyle services via its Tinkoff ecosystem, has agreed to become an anchor seed investor.
For more information, please visit vivid.money
solarisBank AG is the first Banking-as-a-Service platform with a full banking license that enables companies to offer their own financial products. Through APIs, partners gain access to solarisBank’s modular services including digital bank accounts and payment cards, identification and lending services, as well as services provided by integrated third party providers. Through this, solarisBank creates a highly developed technological banking ecosystem for fintechs and established digital companies, as well as banks and corporates.
After having established itself as the banking partner of choice for blockchain and crypto businesses, solarisBank founded solaris Digital Assets GmbH in 2019 to further drive the adoption of digital assets. The 100% subsidiary of solarisBank offers a custodial solution for digital assets to complement its existing banking services.
The Berlin-based company was founded back in 2016 and is led by CEO Dr. Roland Folz, board members Jörg Diewald, Dr. Jörg Howein and Thom Rasser, as well as COO Dr. Daniel Seifert and CTO Hima Mandali. To date, solarisBank has raised more than EUR 100 million from renowned investors, including BBVA, Visa, Lakestar, ABN AMRO’s Digital Impact Fund, Arvato Financial Solutions, SBI Group, finleap and yabeo.
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Solarisbank AG is the first Banking-as-a-Service platform with a full banking license that enables companies to offer their own financial products. Through APIs, partners gain access to Solarisbank's modular services including digital bank accounts and payment cards, identification and lending services, as well as services provided by integrated third party providers. Through this, Solarisbank creates a highly developed technological banking ecosystem for fintechs and established digital companies, as well as banks and corporates.
After having established itself as the banking partner of choice for blockchain and crypto businesses, Solarisbank founded Solaris Digital Assets GmbH in 2019 to further drive the adoption of digital assets. The 100% subsidiary of Solarisbank offers a custodial solution for digital assets to complement its existing banking services.
The Berlin-based company was founded back in 2016 and is led by CEO Dr. Roland Folz, board members Jörg Diewald, Dr. Jörg Howein and Thom Rasser, as well as COO Dr. Daniel Seifert and CTO Hima Mandali. To date, Solarisbank has raised more than EUR 160 million from renowned investors, including ABN AMRO’s Digital Impact Fund, BBVA, finleap, HV Holtzbrinck Ventures, Lakestar, Samsung Catalyst Fund, SBI Group, Storm Ventures, Visa, Vulcan Capital, and yabeo.