deVere Group, one of the world鈥檚 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聽fintech sector.
鈥淭he 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鈥檚 world,鈥� says Green.
鈥渄eVere Vault, a low-cost, app-only e-money service, has been driven by demand from internationally-mobile individuals, globally focused firms and expats.
鈥淭hey want to access, manage and use their money instantly and seamlessly wherever they are in the world.鈥�
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.
鈥淚t is a trend that is only set to gain momentum moving forward. I believe the days of traditional banking are numbered,鈥� says Green.
鈥淭his is due to the speed with which banking information can be accessed and transactions made via app-only services.
鈥淪uch money apps are growing in popularity due to this high level of convenience, increased security, and as people become ever-more tech-savvy.鈥�
Green continued: 鈥淚nitially, deVere Vault will provide global services in electronic money and a single card, multi-currency service.
鈥淔ocusing on those with an international lifestyle, we will also ensure that the best currency exchange ratios are given.
鈥淵ou 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.鈥�
The deVere CEO concluded: 鈥淎nd this is just the beginning. We鈥檙e 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.
鈥淭his is a low-cost, e-money app designed for today鈥檚 globalised world.鈥�
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.