Neobank Vivid Money states on its website, 'We combine the worlds of banking and investing in one single mobile app and believe dealing with finances should be easy and accessible for everyone. We are on the way to making it real for everyone in Europe'.
In Germany, Vivid Money is called a smartphone bank. Founded in 2019 by former employees of Tinkoff Bank of Russia, Alexander Emeshev and Artem Yamanov, the neobank has innovative offers like a cashback program and commission-free investing in shares, ETFs and cryptocurrencies. Designed as a competitor for established neobanks like N26 and Revolut, Vivid Money is now available in France, Spain and Italy besides Germany. It has more than 100,000 customers.
2 DISTINCT ACCOUNTS
A Vivid Money customer has an option of 2 accounts a free account, called Vivid Standard, and a fee-based account, called Vivid Prime. A customer of the latter has to pay 9.9 euros per month as a fee. Both the accounts offer a free metal card and a customer can create up to 15 sub-accounts, which the neobank calls 'Pockets' with separate IBANS free of charge, using the Vivid app. In both accounts, customers can receive cashback on daily purchases or from certain providers (the bank describes this as 'super deals'). Vivid Prime has more features that are geared more towards power users.
UNIQUE CASH BACK
This story is from the January 2023 edition of Banking Frontiers.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the January 2023 edition of Banking Frontiers.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Key Russian central bank official leaves
The First Deputy Governor of Bank of Russia Olga Skorobogatova is leaving the central bank in early December.
Better prospects for Swiss banking in 2024, says new study
The year could see revitalization of the banking to some extent, finds the study by Swiss Bankers Association:
Ease of use, personalization & consistent engagement promotes digital loyalty
Murari Lal, Head - Digital Initiatives, Shivalik Small Finance Bank, delves into platforms, loyalty and Al:
From Feet on Street to Fingers on Screen
Nippon India Mutual Fund is driving into newer customer segments by leveraging voice and vernacular as the drivers, reveals the company's Chief Digital Officer Arpanarghya Saha:
Digitization embraces the senior citizens
Among other projects, Shriram Capital completely transformed the 2-wheeler loan origination system, reveals the company's Chief Digital Officer Ajay Thomas:
Making of the most connected bank in Bangladesh
A stream of digital initiatives is transforming Mutual Trust Bank and its customer engagement, reveals Khalid Hossin, who heads the bank's digital banking division:
Digital embraces Archaeological Tourism
Chief Digital Officers are leading tremendous transformation initiatives. Five CDOs reveal their fascinating journey and their ambitious goals:
Tech will bridge Advisory and Education
Venkatesh Naidu, CEO, Bajaj Capital Insurance Broking:
AI bridges Protection and Prevention
Gyanendra Singh, Chief Technology Officer, Aviva India:
Bridging Products & Distribution for Rural Markets
Vikas Mittal, Deputy CEO, and Amit Thapliyal, Chief Technology Officer, Magma HDI General Insurance:
