8 December 2020: BUX, Europe’s largest neobroker, has announced it has extended its partnership with leading enterprise connectivity platform Yapily to France and Austria. The move will enable French and Austrian BUX Zero users, along with German users already taking advantage, to seamlessly fund their accounts and quickly build an investment portfolio.
Through extending the partnership, even more BUX Zero customers can now conveniently make deposits to their BUX Zero accounts from within their bank’s mobile banking app. Removing the friction involved in investing and opening access to bank accounts.
The market for fintech services has increased significantly across both France and Austria since the implementation of PSD2, to meet the demand from consumers who now expect a more accessible, and friction-free way to manage their finances.
The extension of the BUX and Yapily partnership meets this growing demand head-on - allowing French and Austrian BUX Zero users to begin investing in the brands and companies they care about commission-free, in an easy, and intuitive way. With a simple and quick onboarding solution that benefits from the enhanced security of open banking already in place, funding an account is now equally as quick and simple.
Typically, French and Austrian BUX Zero users funded their accounts through bank transfers; taking on average one working day to arrive. The integration of Yapily’s open banking API enables BUX Zero to enhance even more of its customers’ experience by removing the friction, which speeds up the process in making deposits to their BUX Zero accounts.
The expansion of the partnership further consolidates Yapily’s position in Europe as the backbone of open banking, and the infrastructure that partners need in order to take advantage of the benefits that open finance will bring. Yapily now has near total European coverage.
Nick Bortot, Founder & CEO of BUX said, "Efficiency and high usability are the core of BUX Zero, which we clearly prove by integrating the Yapily API.
"We are constantly looking for innovations to make the investment experience of our digital native customers even easier. This new generation of investors needs an investment experience that fits their mobile lifestyle. BUX Zero is the first choice for these investors because it offers the right solution for this target group. In the long term, we want to launch BUX Zero throughout Europe and with Yapily, we can best adapt to local markets.”
Stefano Vaccino, CEO of Yapily said, “We are pleased to announce the extension of our partnership with Bux to France, which is in line with our pan-European strategy. Drawing on our open banking expertise, we have rolled out connectivity in three countries - Germany, France and Austria - which allows regional Bux Zero users to receive a better in-app experience.
“Across Europe, we have seen increasing demand to provide robust infrastructure to support our customers in rolling out the benefits of open banking beyond their native market. We look forward to continuing our work with Bux across Europe.”
About BUX (getbux.com)
BUX makes it easy and affordable for Europeans to do more with their money. Since launching in 2014, BUX has made the markets accessible for young investors across 9 countries in Europe. BUX currently offers 3 apps that allow users to explore the financial markets including BUX Zero, the flagship platform that is making commission-free investing possible, allowing users to invest in the brands and companies they care about. BUX Zero is currently available in the Netherlands, Germany, Austria, France and Belgium.
Headquartered in Amsterdam, the Netherlands, the company is backed by Holtzbrinck Ventures, Velocity Capital, Orange Growth Capital and Initial Capital.
About Yapily (yapily.com)
Yapily is an enterprise API connectivity platform, allowing companies to share financial data and access payment infrastructure. Designed and built for Open Finance, Yapily enables fairer and better financial products for everyone.
The company has raised $18.4m in funding to date, and provides infrastructure for industry leaders including American Express, Intuit Quickbooks, Moneyfarm and BUX. Headquartered in London, UK, Yapily employs over 75 people and continues to scale rapidly.