Berlin-based Fintech Vivid (website) has received permission to provide investment advice through its Dutch subsidiary. Neobank aims to offer a “super app” for all financial services. The neobank has received an investment license from the Dutch Financial Markets Authority (AFM).
The Berlin-based fintech made the announcement. With the permit, which Dutch subsidiary Vivid Money B.V. officially holds, the startup can offer investment advice and investment brokerage for stocks, funds & co. Itself. So far, the institute, which in addition to a current account and a free Visa debit card, offers various savings and investment products based on shares or even cryptocurrencies, has cooperated with the securities firm CM-Equity. There is no mention of an end to this cooperation in the announcement.
Vivid cites the permit acquisition as an “important step to becoming a super financial app.” “With the investment license, we can now independently develop and launch the best investment products for our clients – all combined with our banking services in one app,” Executive Director Esmond Berkhout was quoted as saying in a statement. “From direct access to the global equity market to the custody of securities to the cashback in real assets, obtaining the license allows us to advance our mission even more independently.”