New Smartphone power Bank, N26 and Revolut competition


The Russian digital Bank Tinkoff launched this Monday, the financial platform Vivid Money. Still, not all functions are available, such as from “Handelsblatt“-Reports. Gradually, however, new Features should be added. In addition to a checking account and a free Visa-Debit-card saving and investment should be products offered.


With the possibility of stock trading via the App wants to settle Vivid Money from the competition. A few months ago founder Oleg Tinkov, Revolut & co. announced “a kick in the pantsto want, ” as he expressed on Instagram. Tinkoff was founded in 2006 in Moscow. With more than 10 million customers, it is considered to be one of the largest digital banks in the world. The Expansion to Europe will rapidly driven forward, as the former chief strategist Chris Weafer said: “You will not come up with a Aggressiveness on the market, the Revolut, and N26 as small as a“.

Vivid Money with numerous additional functions

With exclusive Features, the Bank plans to attract customers. So Vivid Money will offer a bonus program, if the user purchases Cashback get. In the case of Rewe, Lieferando, Thalia, and other shops give up to 10 percent of the purchase value as Cashback. However, the premiums are capped at a total of 20 Euro in the month.

The money could in turn be used in the application is directly re-invested. To invest customers, so the comments of the Bank, in European and ameriika niche stocks and ETFs. According to information from the trade-sheet of the stock trade is to be mainly free of charge. Also a variety of savings plans to help customers in the assets structure.

Neobank with ambitious targets

Vivid plans to win in the first year, 100,000 customers. The Start-up employs a workforce of 130.

Despite the Differences, the Smartphone Bank is also oriented to the competition. So, there are two account models. A free and a Premium account for EUR 9.90 per month – exactly the same amount, the N26 does for “You”account.

Photo by niekverlaan (Pixabay)

Saurabh Singla
Saurabh Singla is a former Mechanical Engineer turned digital marketer. He has been in the digital marketing industry for over 6 years and has worked with clients across different sectors including FanFare, BitMachina, Bayslope amongst others. Saurabh is also an Author and has written over 30 websites for his clients including INC42, Yourstory etc. After founding CaphIQ in 2020, he is helping businesses and Personalities for their Personal Branding and online visibility.

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