● Already launched in Germany, France and Spain, the Berlin-based startup has exceeded the quota of 100,000 customers in just 8 months from its launch
● Vivid's app combines banking and investing in a simple and intuitive way, allowing complete and integrated management of your finances
● Cashback is accumulated in Stock Rewards of the world's leading companies and grows along with the price of the stocks, never falling below the starting amount
● Vivid Money has partnered with Banking-as-a-Service platform Solarisbank to offer compliant financial services
● Vivid Invest has entered into a partnership with CM-Equity AG, a broker located in Germany, which enables the company to offer fractional investments in stocks and cryptocurrencies, among other things.
Rome, April 7th2021 – Vivid is the all-in-one investing and banking platform, is announcing its launch in the Italian market today. The fintech startup aims to convince Italian savers of the importance of growing their money, offering them a safe and secure way to approach investments.
According to the latest Abi estimates, over 1,746 billion euros are now deposited in the current accounts of Italian savers: a figure that shows our country’s historical disposition to saving and lack of familiarity with investments, and how many citizens prefer to keep money in their bank accounts. The phenomenon was only accentuated by the pandemic, with the climate of uncertainty pushing many to accumulate funds on their accounts
Through an innovative cashback mechanism that links the refunds obtained to the performance of world’s leading companies’ stocks, Vivid allows clients to take advantage of increases in stocks without any risk of losing the amount invested. All this within an app that offers a complete range of services to manage, monitor and analyze everyday expenses and savings.
Innovative banking services at your fingertips
How does Vivid Money work? First of all, by signing up customers get a free German bank account (because of the partnership with Solarisbank, funds are safeguarded up to 100.000€ by the German Deposit Guarantee Scheme) and a metal Visa debit card. The card - available also as a virtual card - shows no details externally and can be locked and unlocked with a single click; moreover, Vivid Money is also exploring adding features such as Google Pay and other popular mobile payment platforms in the future.
Subscription is free with the Standard plan, while for €9.90 per month customers can activate the Prime plan, receiving extra benefits such as higher cashback and higher limits for cash withdrawals. Prime account benefits are still offered as a gift to all new customers for the first three months at no cost.
The app also gives the possibility to create multiple sub-accounts called "pockets", each with its own IBAN, that clients can choose to share with other users to simplify the shared management of expenses, rents and bills. Currencies other than the euro (over 100 are available) can be added to the pocket, thus creating real multi-currency accounts, with the advantage of not incurring any commission for the exchange.
A simple drag-and-drop instantly performs a multitude of tasks, from transferring money between accounts to assigning Vivid cards to a specific Pocket, but also sending or requesting money from another Vivid user.
Finally, the smart analytics provided by the app allow customers to monitor daily expenses and recurring payments by tracking all active subscriptions with online providers like YouTube, Netflix, etc.
Learn to invest with cashback
Key features of Vivid Money, as mentioned, are the multiple cashback programs available: from the "Champion", a 10% refund for the user who in a two-week period spends more in a certain cafe or restaurant with their Vivid card, to the "Super Deals" with the most important Italian and foreign brands, which are activated when you successfully invite a friend to join Vivid.
But there’s more: the unique selling proposition of Vivid is that cashback money is automatically stored in a specific pocket (Stock Reward Pocket), which links it to the performance of the world's largest companies’ stocks. Having chosen their favorite companies, customers can then see their savings grow along with the stock performance. And what if stocks go down? No problem: your pocket will return to the sums obtained with the cashback, without the possibility of losing the cashback amount accumulated.
“The idea is to incentivize people to invest, starting small and risk-free," explains Alexander Emeshev, co-founder of Vivid Money, "Today, keeping money in the bank results in zero or even negative interest rates, which means losing money. We want people to get back in control of their financial situation: by turning expenses into investments, we educate our users to grow their savings."
Commission-free investments with one click
In addition to the services already described, in a short time Vivid will make available also in Italy its actual investment product, Vivid Invest. Vivid's clients will be able to invest, with just a few clicks and mostly without commissions, a vast range of 1,000 stocks listed on the American and European markets.
Opening a Vivid Investment Pocket will take only 1 to 5 minutes, with the ability to invest from as little as €0.01 right away.
Cryptos made easy
The investment possibilities offered by Vivid do not end here: along with Vivid Invest will be launched Crypto Pockets, with which you can also invest in the 10 major cryptocurrencies on the market, from Bitcoin to Ethereum, again starting from just €0.01. Users will be asked to answer a 2-3 minute test when opening a Crypto Pocket intended to evaluate their level of knowledge and investment experience. This test allows Vivid to evaluate whether or not the user is able to use this feature based on their knowledge.
Directly from the app, users can monitor in real time how much the current price of a particular instrument has changed compared to the purchase price, view the profits made, and thus decide their next investment moves.
An app to learn how to grow your money
Central to Vivid Money's intentions is the educational aspect, especially in a nation like Italy that in the OECD 2020 ranking on financial literacy ranks 25th out of 26 countries. For this reason Vivid Money, in addition to providing its customers with personalized assistance in Italian language 24/7, aims to include among its services an increasing amount of educational material on the topics of savings and investments.
“Millions of people,” comments Artem Yamanov, co-founder of Vivid Money, “are still trying to find a good and easy solution on how to spend, save and invest their money. Traditional old banks are stuck with legacy systems, while fintech players do one job thoroughly but lack other services. With Vivid Money, 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,”
A start up, but with decades of experience
Founded in Berlin in 2019 by Artem Yamanov and Alexander Emeshev - both with a long experience in Tinkoff Bank, one of the largest fintechs in the world - Vivid Money has grown very quickly: in just 8 months it has exceeded 100 000 customers, and today it has over 2o0 employees of 25 different nationalities. Italy is the fourth country where Vivid lands, after having already successfully launched in Germany, France and Spain.
To offer compliant financial services, 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. Vivid Money GmbH offers the brokerage of transactions for the purchase and sale of financial instruments in the area of foreign exchange as a tied agent of Solarisbank AG.
For the investment services in stocks and cryptocurrencies, Vivid Invest GmbH acts as tied agent of CM-Equity AG. Vivid Invest GmbH offers the brokerage of transactions on the purchase and sale of financial instruments for the account and under the liability of CM-Equity AG.
“Super Deals” cashback brands: Esselunga, COOP, Conad, Carrefour, LIDL, Amazon, IKEA, Adidas, Decathlon, Nike, PUMA, Reebok, Zara, Calzedonia, Intimissimi, Tezenis , Feltrinelli, Zalando, OBI, H&M, Leroy Merlin, Sephora, DM DROGERIE MARKT, Auchan, Uber Eats, Just Eat, Netflix, SPOTIFY, Winelivery, Tigotà, DELIVEROO, YouTube, Saturn, Playstation, XBOX, Nintendo, SHELL, Rituals, Starbucks, ALDI, iHerb, BP, C&A, Amazon Prime subscription, Prime Video, badoo, Tinder, Kindle, Steam Games, Douglas, Gorillas, ARAL, BAUHAUS, SNCF, Monoprix, Lieferando, El Corte Ingles, Otto, Veepee, REWE, Franprix, Mercadona, Wolt, TOTAL, Peek &Cloppenburg, Deutsche Bahn, Renfe, EDEKA, Farfetch, E.LECLERC, KAUFLAND, Fnac, NettoMarken-Discount
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 investments in stocks and cryptocurrencies) 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 200 employees. For more information, please visit vivid.money
Matteo Tivegna I Daniele Battistelli,
T. 393 187 4105