BinckBank chooses Safened as strategic partner to break open the savings market

Source: BinckBank

BinckBank N.V. and Safened Limited join forces in the field of international savings. BinckBank will provide retail savers with access to savings deposits of financial institutions in Western Europe and Safened facilitates this digital platform.

The new service of BinckBank is expected to be launched in the Netherlands in the fourth quarter of 2016. The first technical pilot for this has already been completed successfully.

With this new savings brokerage services BinckBank will offer the ability to savers to spread their savings easily over several banks with different savings rates in European countries. This new service is part of the program ‘Save it smarter’ in the new strategy of BinckBank in broadening its services from investing also to savings. Comprehensive market analysis and frequent customer panels during the development stage give both parties a lot of confidence in the new proposition. With this proposition BinckBank and Safened expect to serve a significant part of the savings market proposition in the coming years.

Financial details of the agreement between BinckBank and Safened were not disclosed.

Vincent Germyns, CEO of BinckBank:
"Our partnership with Safened is an important step in the development of BinckBank as online savings broker. It is our ambition to help households in their search for better returns and greater accumulation of assets for their financial future. With our online savings broker initiative, we also implement our new strategy by expanding our service offer within the segments of Trading, Investing and Saving. As a new savings broker we will be the challenger in the savings market, comparable to our role at the time of the launch of online brokerage. We will help to provide our customers with a safe, smart and simple alternative to the traditional savings account in innovative way."

Rudolf Booker, CEO of Safened:
"We are pleased that BinckBank has chosen for Safened, allowing the customers of BinckBank to have the ability to manage their savings more actively, simply and digitally in opening savings accounts in their name with banks in other countries in Europe. The combination whereby BinckBank focuses on customer contact and Safened on the back offices combines the best of both worlds. "

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