Vivid now speaks Italian with launch of local IBANs

April 5, 2022

Milan, April 04 2022 – Vivid, the German fintech that aims to offer the ultimate app for managing every aspect of your finances, continues to make inroads into the Italian market.. The Berlin-based start-up has announced the arrival of the Italian IBAN for all new registered customers, launching the first of a series of new features designed to guarantee Italian users an even more complete and tailored offer.

"The arrival of the local IBAN is a crucial step, as it will facilitate the use of Vivid as a primary account," explains Alexander Emeshev, co-founder of the Berlin-based start-up. "But this is only the beginning: through the launch of new services and partnerships, in the coming months, Vivid will become even closer to the needs of our Italian customers, providing them with a complete platform to manage all their banking, payments, and investment needs."

Thanks to the Italian IBAN, new customers will be able to easily receive their salary or pension, as well as pay their utilities and subscriptions into their account. In addition, they will no longer have to report their foreign account in their tax return if their average balance or maximum total value exceeds the legal thresholds. Vivid is already investigating possible solutions for customers with a German IBAN, should they wish to switch to an Italian bank address.

To offer local IBANs in Italy, Vivid is partnering with Solarisbank, the leading Banking-as-a-Service platform in Europe. "After announcing our market entry in July last year, we are now able to offer local IBANs to our partners.. We are very proud that our team has managed to get this up and running in such a short time. Vivid is already leveraging the full breadth of our platform to deliver an exceptional digital banking experience to their customers. With Italian IBANs, we now enable Vivid as the first partner to further localize their offering and continue their impressive success story," said Federico Roesler Franz, Commercial Country Head Italy at Solarisbank.

The arrival of the Italian IBAN is part of a new series of initiatives that go from the recent launch of Vivid 2.0, a new update of the app that goes to expand the offer of its solutions for users, further improving its services in terms of cryptocurrencies, cashback, and savings plans.

In terms of cryptocurrencies, Crypto 2.0 has been introduced, which has led to the increase in the number of tradable cryptocurrencies to over 100, bringing its catalog to be one of the largest in the European market and allowing all users to be able to invest their money starting from 1 euro through the best-guaranteed price structure. New solutions such as sending and withdrawing cryptocurrencies to external wallets will also be available soon so that anyone can send their assets to physical and online wallets.

This solution has also been made possible thanks to Vivid invest, which has made it possible to completely break down investment barriers through very useful tools such as personalized savings plans. In fact, users will be able to invest regularly exactly the amount they want to put aside, allowing anyone to create a safe and diversified portfolio. In addition, you will have the ability to withdraw your savings in a unique and flexible way, allowing real-time access to your savings pocket and moving the desired amount to other pockets as needed.

Last but not least, the launch of Cashback 2.0, where users will have the opportunity to receive significantly larger amounts of money back than in its first version, going up to tenfold the cashback for Vivid Prime customers and double it for standard customers.

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 their over 500,000 customers throughout Europe with a superior banking and investment experience and to offer a wide range of financial services without unnecessary fees. Vivid Money was founded in 2019 in Berlin and consists of an international, highly qualified team of more than 300 employees. Vivid has already raised over 200 million euros from renowned investors, including Ribbit Capital, Greenoaks Capital, and the SoftBank Vision Fund 2, and is valued at 775 million euros.

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