“Rethinking banking” is what Commerzbank consumer bank spin-off Comdirect aims to do.
Details about Comdirect
The wave of FinTech start-ups in recent years has led to a range of new banking options for consumers and challenged old processes and structures reliant on bricks-and-mortar branches. German high-street bank Commerzbank didn’t let the opportunity to try something new escape it, though, and set up Comdirect as a new consumer-facing bank. Based in Quickborn just outside Hamburg, Comdirect is unquestionably a big part of the city’s FinTech scene.
Comdirect’s offer is predicated on linking banking products to smart online solutions. As a result, customers can open accounts, take out loans, set up investments, and order credit cards in just a few clicks. At the same time, Comdirect offers better conditions than most highstreet institutes, with absolutely no charges for its current accounts and APRs of 2.45% (October 2017) on credits, making it cheaper than almost every competitor. Then there are the bonuses for people switching their banking to Comdirect: the advertising campaign promised “€100 if you like us – and €150 if you don’t!” The bank enjoys a good reputation among consumers – a reputation underscored by a range of awards from consumer watchdogs and financial media for the best stocks management portal or current account.