Upvest is set to expand its product offering by embedding Deutsche Bank’s banking infrastructure into its services.
The move comes on the heels of a partnership between the two, which will give Upvest’s clients access to comprehensive end-user cash management solutions, virtual IBANs, and foreign exchange services through Deutsche Bank.
Upvest is an European investment infrastructure provider based in Berlin, Germany. The firm provides an Investment API that enables businesses to build great investment experiences, tailored to their customers’ needs – seamless, secure, and across international borders.
By embedding Deutsche Bank’s banking infrastructure, Upvest is adding the following capabilities:
- Cash management: Via Deutsche Bank’s banking capabilities, Upvest will handle cash management solutions, allowing financial service providers to optimise liquidity, streamline operations, and improve financial control.
- Virtual IBANs: Upvest can now offer instant and easy payment solutions via Deutsche Bank’s innovative virtual IBANs solution. It also enables instant matching of incoming pay-ins to accelerate the investment process.
- Foreign exchange (FX) services: The partnership will allow Upvest to offer state-of-the-art currency exchange services, based on its Investment API. Deutsche Bank’s integrated workflow solution reduces costs for Upvest clients. It also enables seamless real-time currency conversions for international investments, ultimately improving the overall end-user experience.
“The strongly growing neo-broker segment is the ideal fit”
Galina Kersten, Head of Tech & FinTech Sales EMEA at Deutsche Bank, commented: “Providing our services to the Berliner fintech Upvest as one of the leading scale-ups in the capital market investment area aligns with our dedicated commitment to supporting tech and fintech innovation. We look forward to working closely with Upvest to enable pan-European, instant, and API-based solutions in payments, FX, and beyond. The strongly growing neo-broker segment is the ideal fit to experience the innovation power of Deutsche Bank”.
– Advertisement –
Martin Kassing, CEO and co-founder of Upvest, added: “We are thrilled to join forces with Deutsche Bank, a global leader in banking. Specifically, the fintech know-how, flexibility, and tech focus of the Deutsche Bank team will support us in achieving our ambitious growth plans. With their comprehensive banking solutions, we are well-positioned to further enhance our product offering and deliver unparalleled value to our clients”.
Plum tapped Upvest for ETF trading
Plum recently tapped Upvest to add ETF trading across its EU markets. The expanded offering enables customers to invest in diversified funds by geographical region, sector and asset class, as well as tracking multiple stock market indices from around the world.
Powered by Upvest, Plum’s European ETF offering consists of EUR-denominated ETFs, including fractional shares. The Easy ETF range, accessible without a paid subscription, consists of three globally diversified ETFs tailored to different risk levels to help customers start their investment journey.
The rest of the ETFs are available with Pro and Premium subscriptions, with more than 40 carefully selected funds on offer in total, such as CAC 40, S&P 500 US, and the Artificial Intelligence ETF.
Upvest partnered with BlackRock
Upvest recently partnered with asset management titan BlackRock. Together, the firms aim to make investing more accessible to millions of Europeans. The partnership is sealed with a €30 million funding round in which BlackRock participated, along with existing Upvest investors.
The collaboration brings together BlackRock’s extensive asset management expertise with Upvest’s revolutionary API-based investment infrastructure. The joint venture aims to expedite the development of modern, user-friendly investment experiences, which wealth managers, banks, and fintechs can deploy within months, not years.
The European landscape has seen a surge in first-time investors flocking to digital platforms. These platforms primarily offer low-cost, transparent products like ETFs. Estimates project the number of ETF savings plans across Europe to burgeon from 4.9 million in 2021 to about 20 million by 2026.
Upvest has become a forerunner in providing low-friction investment infrastructure. Its API facilitates fractional investments across asset classes, including ETFs, stocks, and mutual funds, allowing investors to start with as little as €1. The technology is scalable, inviting both emerging fintechs and established financial institutions to benefit from reduced transaction costs and streamlined operations.
The partnership is poised to reshape the investment landscape by setting new standards for how investments can be made more accessible. While Upvest already counts some of Europe’s largest fintechs among its clients, the endorsement and financial backing from BlackRock undoubtedly elevate its potential to a new level.
