A few weeks ago the FinTech has Startup vaamo cooperation with N26 announced. N26 customers can now invest with N26 Invest directly in the investment strategies of vaamo. In an interview with Oliver Vins, Founder & amp; Board of vaamo Finanz AG we talk about cooperation, about challenges in new business and as Robo-Advisor in the future should cooperate with banks.
For two weeks now cooperates vaamo the Startup N26 (formerly Number26). What are the first impressions? There were few critical voices due to the minimum fee?
N26 and vaamo cooperate for three weeks in the field of investment. In my view, it is super managed to integrate the topic N26 Investment in the familiar simplicity and ease in the N26 App. A great performance! We provide the investment strategies and the complete processing platform behind by API. The response was well above expectations.
Of course it can because sometimes a few critical tones give as here the monthly minimum fee of 1.90 euros. This is but a clear misunderstanding. Most providers charge high minimum volumes of several thousand euros to cover the costs for safekeeping and transactions. The way over the minimum fee allows each, first with small amounts of 10 euros or try the offer before then invests more money. That it permanently makes no sense exclusively a savings plan over 10 euros to apply and to pay the minimum fee is obvious. Meanwhile, the minimum charge is also considered transparent in the graphics.
A major challenge is customer acquisition. Do you see a major opportunity in cooperation with other FinTech vendors? How open are here her colleagues.
The “adult” are FinTechs, the more interesting are those collaborations. A certain marketable but is required before such a move makes sense. Our cooperation shows that a value for the customer can be provided by the integration, this also gladly accepts. Basically, I experience the industry as a very open – due in part because most FinTechs pursue the same fundamental vision: Banking simple, fair and understandable fashion to
Could you kind of cooperation with classical. financial service providers, financial advisors or banks imagine? How open institutions the talking?
Yes. There has now also recognized the advantages of “Robo-Advise” clear and there is great interest. We offer our technological platform therefore now also third parties. We have made significant investments and also taken the necessary measures to fulfill extensive compliance requirements of the major banks. We offer our solution both white label and under our own name or just an interface as in N26. Our system has a very flexible. If it is desired, we can e.g. Other investment strategy and fund integrate. Depending on the objectives of the cooperation partner we can offer both an intermediary and an asset management solution.
rumored to have applied for a financial portfolio management license from the BaFin. Do you see a need for a Robo-Advisor. Is this the end of the provider previously based their business model on financial investment brokerage.
We look at the issue of course very closely. Both the intermediary and the asset management model have proven themselves in the offline world long and both also in the online world its raison d’être with different advantages and disadvantages. In the pure placement of implementation effort is smaller, the process simple and the customer retains full control – the mediator may act only on instructions from the customer. In asset management, the customer gives the asset manager’s mandate to act in accordance with the agreed investment guidelines in its sole discretion for the customer. The course requires more confidence in the asset manager, but also opens up the scope of additional services to offer. Which is better depends very much on the business model and the target customer segment from
What important milestones have you set for the second half of the year
We want to provide our technology further partners.? – of course without neglecting our successful retail offer. This brings us closer to our vision, to enable as many people a simple and fair access at a reasonable investment.see
Details about the seller on the vaamo topics page. Also interesting is the interview “20 Questions for Robo-Advisor vaamo”. There is also a comprehensive list of active in Germany Robo-Advisor.