Posted on 07/28/2016 at 07:31
Savedroid and Wirecard launch Germany's first intelligent saving app
Wirecard implements virtual MasterCard and provides e-money account
The Wirecard Group has entered into a partnership with Frankfurt-based FinTech company savedroid. The eponymous app is aimed at helping users save money as they go about their everyday activities. To make this possible, Wirecard is implementing a virtual MasterCard in the savedroid app as well as processing payments via an e-money account – thereby providing the necessary licence and technical platform. By launching the app, the two companies are bringing an innovative solution to the market, which demonstrates how the digitisation of banking can also provide value added for consumers.
Personalised savings rules allow users to turn everyday habits into pure savings – whether practising sport, checking their smartphone, using social media apps or shopping. Rules are based on if/then logic, modelled on the American “If This, Then That” principle. They can be freely configured in the app and run automatically. For this purpose, users connect the savedroid app to their existing current account, define personalised rules which correspond to their lifestyle, and are given a free savings account with the Wirecard Group where their savings are safely put aside.
Dr Yassin Hankir, Founder & CEO of savedroid: “With today’s launch of savedroid, Germany’s first intelligent savings app, we are revolutionising the banking market. In Wirecard, we have found a reliable and experienced partner for this process, who fulfil all the relevant technical and banking standards”.
Thomas Wernet, Head of Sales and Business Development Issuing at Wirecard, adds: “Financial technology is our core business. We are pleased that savedroid has chosen to work with us. The trend of FinTech companies providing new solutions in a traditional environment is continuing. We offer these companies internet technologies and banking services”.Download Press Release