- First robo-advisor in Germany relies on multibanking and cash flow analysis.
- To redefine investing, BANKSapi supports quirion with the machine learning feature ‘autopilot saving’ and access to the Open Banking platform.
- Intelligent cash flow analysis enables automatic adjustment of savings plans to monthly disposable income.
BANKSapi, one of the leading banking-as-a-service providers in the German market, supports quirion in the further development of digital customer-centric investing. The BANKSapi Open Banking platform enables quirion to aggregate financial data from its clients and increase asset under management (AuM) by means of systematic cash flow analysis.
In addition to the mature Open Banking platform, BANKSapi’s highly developed data science platform was decisive for quirion in the selection of a suitable PSD2 provider. This includes modular customer journeys including intelligent categorization of sales data with a hit accuracy of almost 100 percent.
Instead of fixed monthly savings plans, quirion clients will in future have the option of setting flexible monthly savings targets based on their disposable income. The modular platform of BANKSapi determines the individual savings amounts and services the payment processing.
“With the multibanking approach, we are expanding the quirion app into a hub for our customers when it comes to ‘personal finance’,” says quirion CEO Martin Daut. “Our dynamic form of savings plan is a function that no other robo-advisor offers in this way yet – and which you also look for in vain at the big banks and brokers. The cooperation with BANKSapi was excellent, so we are already working together on the next ideas.”
“We are delighted with quirion’s innovative strength in combining digital investment with the possibilities of PSD2. With our support, quirion is the first market participant to show that in the future financial products will also adapt to the needs of customers in an automated way. The growth figures for robo-advisors clearly demonstrate the trend towards customer-centric, automated and digital solutions,” adds BANKSapi co-founder and CEO Jan Wichmann.
quirion enables its customers to identify additional savings potential, but without neglecting the hybrid sales approach, and thus strengthens its digital customer interface. BANKSapi systematically analyses account turnover and unearths new customer experiences for quirion clients.
About BANKSapi Technology GmbH
BANKSapi Technology GmbH is a BaFin-regulated open banking provider based in Munich and Kiel. The B2B Company provides an API after the integration of which users and companies can access their accounts, credit cards, building society contracts and securities accounts via the front-end applications of the licensees.
The sophisticated AI and Data Science platform is integrated deeply in the product and provides
high-value digital customer insights based on the account data for B2B2B as well as B2B2C clients.
Target groups such as banks, insurance companies, distributors, ERP and accounting providers, credit platforms and payment providers are thus given the opportunity to give users an overview of finances, to streamline processes and to develop innovations that improve the financial lives of end customers.
The technology is hosted in noris network’s German high-security data center and meets the highest standards of data protection and IT security. BANKSapi Technology GmbH is backed by a team of founders and the company builder Finconomy AG.