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Germany-based robo-advisor Quirion has announced integrating multibanking into its smartphone app with the technology of Banking-as-a-Service provider Banksapi.
After users link their bank account to the quirion app, all account transactions are made visible, providing users with an overview of their finances. In addition, a new autopilot variable savings plan was introduced, which automatically invests available liquidity from the current account once a month into quirion’s selected investment strategy.
The user specifies the amount that should remain in the current account each month, and before the next salary is received, the autopilot checks if there is an amount above this value, which it automatically invests.
quirion relies on BANKSapi, a Germany-based Banking-as-a-Service provider, to connect the third-party accounts. According to a quirion representative, the multibanking approach combines digital investments with the possibilities of the Payment Services Directive (PSD2) to offer a dynamic form of a savings plan to its customers.
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