Fino makes day-to-day banking processes such as switching accounts easier – for banks!
Details about Fino
Opening an account at in just a few minutes? Applying for a loan with one click? Switching accounts without obstacles? Services like this are enough to confuse many consumers without much experience of finances – and Fino is a FinTech trying to solve this problem, but not (as you might expect) by helping consumers directly. Instead, Fino is supporting banks. Rather than offering, say, a platform which consumers can use to switch bank accounts or apply for loans, Fino offers solutions which banks can buy and supply to their customers, creating loyalty and attracting new business.
In other words, Fino is a “B2B2C FinTech” which started by providing an intelligent account-switching service in 2015 and now offers six different product packages, including a “contract coach” which collates customers’ monthly contracts (phones, internet, etc.) in one application and calculates total outgoings to one easy sum total. This allows customers to find out where their money is going – and how they could optimise their contracts. It’s proven to be a popular service that banks like to provide to their customers: more than 60 financial institutions are already cooperating with Fino.