/retail banking

News and resources on retail banking, consumer finance and reinventing customer experience in finance.

UnitPlus, Vodeno and Aion join forces to make direct payments with ETF investments possible

Source: Vodeno

Investing money and paying with the investment at any time, free of charge? It is now possible. Berlin startup, UnitPlus, launches the world's first ETF investment product with a seamlessly integrated payment mechanism.

In this time of record inflation, holding money in a checking, savings, or overnight deposit account loses value, meaning it has never been more expensive to keep money as cash. That’s why UnitPlus, Vodeno, a Banking-as-a-Service (BaaS) provider, and Aion Bank, a European digital bank, combined forces to empower savers to become investors by helping them easily invest unused money and make potential market returns to fight inflation, all while retaining instant access to cash.

"A single product that lets you both invest money smartly and conveniently ‘pay with your portfolio’ is a financial revolution, and our mission is to help people easily access this flexible way of investing.”

- Fabian Mohr, CEO & Co-Founder of UnitPlus -

UnitPlus went live for German iOS users at the beginning of May with thousands of downloads in the first days, and the app is now also available for Android devices in Germany. UnitPlus customers invest their unused money in broadly diversified ETF (exchange traded fund) portfolios and are able to pay with their portfolio by using the UnitPlus debit card through the unique ‘pay-with-portfolio’ mechanism, worldwide and free of charge. This is the first time ETF portfolios are being integrated in the international payment space. Users’ money is put to work and invested in the capital market instead of lying dormant in low-interest yielding bank accounts. UnitPlus gives customers access to a very convenient investment solution, and money is available to use anytime, making it tailored to their investing and spending needs.

“Our product development was made possible through the close partnership with Aion Bank and Vodeno, giving us access to one of the most modern banking infrastructures in Europe. We have a unique value proposition, and with one of the most innovative BaaS players in Europe as partners, we were able to bring UnitPlus to life in just over a year," says Kerstin Schneider, CFO & Co-Founder of UnitPlus.

Aion Bank and Vodeno, commercial partners offering BaaS solutions, provide the banking backbone for UnitPlus, including card and payment functionality, authentication and compliance, and Aion’s ETFmatic powers the access to the worldwide markets.

"UnitPlus is a great example of how fintech innovation is being powered by BaaS. We were able to make their idea a reality with the VODENO Cloud Platform and our KYC and compliance expertise. Integrating the investment and payment worlds in such an elegant way will introduce ETF investing to many more people.”

-Wojciech Sass, CEO of Aion Bank

Comments: (0)