Vivid Money becomes first financial platform to be certified by TÜV-SÜD

March 16, 2021
  • Vivid Money is the first European mobile financial platform to receive TÜV SÜD certification.
  • The test covered the functionality and usability of the mobile banking app on the one hand and the processes for the maintenance and further development of the app and for Vivid Money customer support on the other.
  • In the test, Vivid Money successfully fulfilled all requirements of the TÜV-SÜD audit

Berlin, 16 March 2021 - Vivid Money, the mobile financial platform for banking, saving and investing, today becomes the first financial platform in Germany to receive TÜV certification, issued by TÜV SÜD. The technical inspection organisation tested the online banking app from 20 November 2020 to 21 February 2021. The scope of the audit included an assessment of the functional aspects of the app (functionality), the handling of the app (usability) and the quality management of the software development processes.

Since the Vivid Money mobile application is continuously improved and supplemented with new features, TÜV-SÜD audited over a period of several months in order to be able to deliver reliable results. The Vivid Money app was assessed for compliance with basic software functionality and quality criteria. In addition, TÜV SÜD also tested the app's maintenance and development processes during the test period.

In the functionality/usability test, TÜV SÜD tested, for example, the creation of a new Vivid Money account, security aspects when setting a password, the opening of pockets (sub-accounts), the handling of transfers or the cost transparency when converting from one currency to another. Also analysed was Vivid Money's customer support and how the company organises its process flows to handle customers' concerns and assist them with any questions they may have. With regard to the design and development processes, TÜV SÜD examined whether there are fixed responsibilities and role allocations within the company for software programming, software testing and software maintenance and which tools and processes the respective teams work with.

In the test, Vivid Money met all the requirements of the TÜV-SÜD audit and thus receives certification according to DIN ISO/IEC 25051:2014 (functionality) and DIN EN ISO 9241-110:2020 (user-friendliness). The certificates are valid for one year.

"We are very pleased about the TÜV SÜD certification. Our goal is not only to offer our users the greatest possible number of features with which they can organise all aspects of their finances. We also want to create an exceptional banking experience for them with a quality-tested product and service offering. For this reason, we decided to have our app thoroughly tested by TÜV SÜD."

About Vivid
Vivid is the first financial service platform that combines all your daily money needs in one app. Whether it’s spending, saving, or investing – Vivid 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 commission-free investments in stocks) without unnecessary fees. Just eight months after its launch in June 2020, more than 100,000 customers are already using Vivid's products in Germany, France and Spain. Vivid was founded in 2019 by Artem Yamanov and Alexander Emeshev in Berlin and consists of an international, highly qualified team of more than 180 employees.

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