Wirecard Group has partnered with Frankfurt-based fintech company Savedroid to introduce an intelligent saving app, designed to help users save money as they go about their everyday activities.
Touted to be Germany’s first intelligent saving application, the savedroid app demonstrates how the digitisation of banking can also provide value added for consumers.
To enable users save money, Wirecard has implemented a virtual MasterCard in the savedroid app as well as processing payments through an e-money account, thereby providing the necessary licence and technical platform.
The app allow users to personalise savings rules to turn everyday habits into pure savings, whether it is practising sport, checking their smartphone, using social media apps or shopping.
To customise the rules which are based on if/then logic, the users will have to 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.
Savedroid founder and CEO Yassin Hankir said: “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.”
Wirecard head of sales and business development issuing Thomas Wernet said: “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.”