Users simply connect the app from the Frankfurt-based FinTech company savedroid with their current account and then set rules for saving based on their lifestyle using if/then logic. Daily activities and habits – such as exercising, online shopping or phone checking – are linked to specific dollar amounts, which are automatically transferred to a savings account when they occur.
The idea and design for the app came from savedroid, which also takes care of the app’s maintenance and support. Wirecard provides the necessary banking licence and technical platform for the project. The app uses a virtual MasterCard, while transactions are processed via an e-money account. In addition, Wirecard sets up a free savings account for each user, where savings can be securely set aside.
The FinTech company savedroid and Wirecard together show how innovative and intelligent solutions can enrich the traditional banking environment. Savedroid customers can now easily create their own savings strategy – and thus profit directly from the digitisation of banking. The app is free to download from the Google Playstore. More information is available at: www.savedroid.de.