Independent financial advisory organization, deVere Group, announced on Monday it is launching its new global e-money app, deVere Vault. According to deVere Group, the debut of deVere Vault has been facilitated by the company receiving its e-money banking license.
While sharing details about the new app, Nigel Green, founder and CEO of deVere stated:
“The launch of our challenger bank, deVere Vault, is the latest move to provide clients a comprehensive, global service. Personal advice with digital solutions is what people need in today’s world. deVere Vault, a low-cost, app-only e-money service, has been driven by demand from internationally-mobile individuals, and globally-focused firms. They want to access, manage and use their money instantly and seamlessly wherever they are in the world.
“For these people and firms, plus the broader key 18-45 year-old demographic worldwide, it is now normal to do everything on their mobile or tablet. Increasingly, this is also extending to their 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. 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 noted that initially, deVere Vault would provide global services in e-money and a single card multi-currency that will focus on those with an international lifestyle. Users will be able to open a deVere Vault account in as little as five minutes, be able to withdraw funds from any cash machine worldwide, receive real-time notifications on all transactions, spend funds on card wherever Mastercard is accepted, and send/receive funds in most major currencies. He then added:
“And this is just the beginning. We’re confident that deVere Vault is set to revolutionize 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 globalized world.”