Source: Deutsche Bourse
The Fintech Hub, our initiative to support start-ups from the fintech community in Frankfurt and in the Rhein/Main region reports two success stories.
Service from CASHLINK is now available - money easily sent via link
CASHLINK has successfully completed the beta phase and its service is now available. The young company, based in the FinTech Hub of Deutsche Börse since April 2016, delivers the solution for a nerve-racking problem. When going out to eat with friends, organizing a gift or splitting the gas bill, you often struggle to collect their part. This now comes to an end thanks to so-called CASHLINKs.
The functionality behind works like this: In a secure online form the user enters the reason for a payment, the amount, his IBAN as well as some personal data. With this information, CASHLINK creates a personalized link, which can be sent to friends by e-mail, WhatsApp or text message. The recipient of the link enters his IBAN and confirms the payment. The amount is finally debited from his account and credited to the account of the CASHLINK creator.
So far, the service of CASHLINK can only be used on the company's website. At the end of the first quarter 2017, however, the CASHLINK app will be available for download in the AppStores of Google and Apple. The banking partner of the start-up is solarisBank, which specializes in the cooperation with fintechs.
savedroid app now works with artificial intelligence
The app of the fintech savedroid, which has been based at Deutsche Börse FinTech Hub since April 2016, is now even more clever - thanks to a money saving algorithm based on artificial intelligence. In the first step, the algorithm analyzes income and expenditure on the user's account. In the second step, whenever there is financial leeway, it places a small amount on the savedroid savings account.
This way, the app automatically saves now and then a few euros without users having to think about it. "This is an important milestone in the direction of autonomous saving," says Dr. Yassin Hankir, founder & CEO of savedroid AG. The app is free and is expected to exceed the mark of 100,000 downloads by March 2017. In June last year, the company closed a seed financing round of €1 million.
savedroid was founded in September 2015. The app of same name helps users to put small amounts of money aside in order to save money for wishes such as a world trip, a new macbook or a design couch.