FinReach enters Austria and Spain

28 November 2017  |  Source: FinReach

What started with a single banking-cooperation has evolved to become an international bestseller in just two years.

The berlin-based IT-provider FinReach sets new standards with its fully digital account switch, which is now used by over 500 banks in three countries, after successfully expanding to Austria and Spain.

Since its market launch in November 2015, the account switch service is already offered by over 100 banks in Germany, within them, Deutsche Bank, Consors Bank, DKB and several Sparkassen and Volksbanken. In Austria, FinReach has partnered with, amongst others, banking group Raiffeisen Austria, which includes 434 banks and serves 1.7 million customers. The company has established itself rapidly in the alpine country, becoming the market leader in account switching solutions. FinReach reached its next milestone with its entry to the Spanish market. Self Bank, which belongs to Boursorama, a subsidiary company of Société Générale Group, is the first bank to offer the account switch service in Spain. Other banks will follow soon. FinReach is the only provider with a fully automated, online account switching solution in Spain.

Alberto Navarro, CEO of Self Bank: “Our goal is to empower our customers to independently manage their own finances. We bet on innovative technologies, being the first bank in Spain to have offered customer onboarding via videoconference and implemented the service ‘My invoices’. Thanks to our partnership with FinReach, we are now also able to help our customers easily switch their bank account in just a few minutes.”

Sascha Dewald, Managing Director of FinReach: “We are very happy with the huge, international interest in our product. The long-term partnerships with so many banks throughout Europe show that our focus on holistic customer satisfaction provides great value to banks and end-customers.”