deVere Group to shake up banking sector with e-money app
deVere Group, one of the world’s largest independent financial advisory organisations, has launched deVere Vault, a global e-money app.
Nigel Green, founder and CEO of deVere Group, says that banking as we know it is finished as his firm puts its money on the fintech sector.
“The launch of our challenger bank, deVere Vault, is the latest move to provide expat clients with a comprehensive, global service. Personal advice with digital solutions is what people need in today’s world,” says Green.
“deVere Vault, a low-cost, app-only e-money service, has been driven by demand from internationally-mobile individuals, globally focused firms and expats.
“They want to access, manage and use their money instantly and seamlessly wherever they are in the world.”
deVere has found that as the global trend moves toward conducting transactions on mobile or tablet this is also extending to day-to-day financial requirements.
“It is a trend that is only set to gain momentum moving forward. I believe the days of traditional banking are numbered,” says Green.
“This is due to the speed with which banking information can be accessed and transactions made via app-only services.
“Such money apps are growing in popularity due to this high level of convenience, increased security, and as people become ever-more tech-savvy.”
Green continued: “Initially, deVere Vault will provide global services in electronic money and a single card, multi-currency service.
“Focusing on those with an international lifestyle, we will also ensure that the best currency exchange ratios are given.
“You will be able to open a deVere Vault account in around five minutes, withdraw money from any cash machine worldwide, get real-time notifications with all your transactions, spend money on the card wherever Mastercard is accepted, and send and receive money in most major currencies instantly with other deVere Vault account holders.”
The deVere CEO concluded: “And this is just the beginning. We’re confident that deVere Vault is set to revolutionise how people access, manage and use money across the world and positively disturb the wider banking sector. Banking as we have known it until now is finished.
“This is a low-cost, e-money app designed for today’s globalised world.”
The announcement follows a further push into the banking sector for deVere. In the last two months it has launched its own private bank and has received an investment banking licence.
The commencement of deVere Vault has been facilitated by deVere receiving its own e-money banking licence.