Because statutory and occupational pension are not sufficient for financial independence in old age, a modern solution is required: With the Vantikcard, the fintech company Vantik brings pension planning directly into the pockets of the smartphone generation.
Cashback for retirement savings
The Vantikcard is a free debit card that can be used to save for retirement while spending money – at home and worldwide, offline as well as online. With every payment a customer makes, one percent (1%) cashback flows into their retirement account. The Vantikcard can be set up using a smartphone in just a few minutes. The highlight: the Vantikcard can easily be linked to the user’s existing bank account.
“We have to completely rethink pension planning”, says Vantik founder Til Klein. "Instead of collecting air miles that have been effectively rendered worthless, the Vantikcard offers a really useful bonus system." With the Vantikcard, getting started with retirement planning is easy, and saving for old age becomes an everyday habit.
The cashback amounts flow directly into the customer’s Vantik retirement account, which can be managed with their smartphone. Users can deposit additional money flexibly, with single or recurring payments. The saved assets are then automatically and sustainably invested in a global ETF portfolio. The deposits are protected from losses by a collective collateral pool that is unique to the market.
European roll-out in 2021
Currently, Vantik is available only in Germany. This will change in 2021, when the single European market for private pension is established. This will create a market with a volume of 2.1 trillion Euro, and 100 million people in the relevant 25 to 39 target age group. Vantik founder Til Klein is a member of the expert panel on the Pan-European Personal Pension Product (PEPP) serving the European Insurance and Occupational Pension Authority (EIOPA). Vantik will be one of the first PEPP providers under the new regulation.
Waiting list now open
Vantik makes it easy to plan for your retirement and the Vantikcard is already available to a few hundred beta users. “The feedback from our customers is very important to us. Many financial products are developed without consideration for the needs and preferences of customers. We incorporate our users and their feedback intensively in product development“, says Til Klein. Vantik is also close to finalizing negotiations with a card provider and will announce their choice shortly.
The Vantikcard will be available to everyone from the beginning of 2021 and will be issued gradually.