Today we’re excited to announce our expansion into Germany with a unique investment product developed in an exclusive partnership with Allianz. Building on our mission to be Europe’s leading digital wealth manager, the innovative partnership is helping redefine the relationship between fintech and traditional financial services.
Moneyfarm and Allianz have worked together to develop the unique product in the German market, which will leverage Moneyfarm’s extensive experience in offering digital wealth services with Allianz Global Investors’ experience of managing mutual funds and risk management expertise.
Customers in Germany can view their portfolio online via the Moneyfarm platform. As with Moneyfarm users across Italy and the UK, they will also have access to investment guidance from a team of Investment Consultants should they want to discuss their accounts.
The new product, launching in beta today, aims to give customers the benefit of active returns at competitive prices.
The initial beta test will be offered to existing clients of vaamo and strategic partner 1822direkt, as well as Allianz Global Investors Germany employees. Following the trial, customers in Germany will be able to invest in the new offering from September.
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Huge landmark for Moneyfarm
Moneyfarm, which is headquartered in the UK and has nearly 40,000 customers, has been working with Allianz over the last couple of years to deliver a cost-effective solution that combines technology, expertise and risk management in order to expand our capabilities and deliver better outcomes for customers across Europe.
Speaking about the expansion of the business, Giovanni Daprà, Co-Founder and CEO of Moneyfarm, said: “Our expansion in Germany represents a huge landmark for Moneyfarm as we grow our presence outside of Italy and the UK and look to capitalise on the growth of digital wealth management across Europe. This sets us up to continue the strong growth of the past 12 months right into 2020.”
Allianz has a strong strategic focus on simplicity, being digital by default, and customers being at the heart of everything we do. These strategic priorities align closely with our own, which makes for an intelligent, well-developed joint product offering that delivers real value to our customers.
“The agility and drive Moneyfarm brings to the table is something an incumbent can always learn from,” explains Juergen Weber, Head of Business and Operational Transformation at Allianz Asset Management, firm in the belief that both Moneyfarm and Allianz can learn a lot from each other. “The partnership with Moneyfarm is a strategic long-term investment, we’re fully convinced the digital wealth management industry will grow and gain importance.”