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Vivid Money taps solarisBank and Visa for launch in Germany

Vivid Money taps solarisBank and Visa for launch in Germany

Vivid Money, a mobile banking startup funded by Russia's Tinkoff Bank, is launching in Germany with support from Berlin-based solarisBank and Visa.

Founded in 2019 by Artem Yamanov and Alexander Emeshev, the app-only bank already employs over 130 people as it launches in Europe. Using the Vivid Money app, users can open an account for free in just a few minutes and manage their finances via their smartphone.

The account comes with a free metal Visa debit card for secure payments and cash withdrawals, and features cashback programmes, sub-accounts in foreign currencies and, in the near future, investment products.

Vivid Money is working together with solarisBank, which provides its fully licensed Banking-as-a-Service platform, and with Visa as an exclusive payment technology partner for Europe.

Albrecht Kiel, regional MD, Central Europe at Visa, says: "The payment behavior in Germany is currently changing rapidly - consumers increasingly want to pay digitally - mobile and contactless. This is why the launch of the mobile-first Visa Debit card by Vivid comes exactly at the right point in time. I am convinced that the joint product proposition by Visa, Vivid, and solarisBank will further drive the adaptation of digital payments in Germany."

Artem Yamanov, Vivid Money co-founder, says expansion into other European countries beyond Germany is planned for the near future.

"We are living in a time when people are receiving no or even negative interest rates for their deposits and high transactional costs," he says. "Even today, they are still suffering from poor service in banking and investing. With Vivid Money, we want to change this."

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