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Finnish start-up Holvi launches mobile banking app, debit card to follow

Finnish fintech start-up Holvi has launched a mobile banking app for iOS and Android.

Johan Lorenzen, CEO

Johan Lorenzen, CEO

The firm says the new app can be integrated into a current account for small businesses, such as online store, invoicing tool, expense claims and reports.

‘Within the last six months, we have shipped many new features our customers have requested. Releasing the mobile apps is a natural next step before we continue working on the highly anticipated Holvi Business debit card, which we will be launching this autumn,’ says CEO Johan Lorenzen.

Holvi says its primary target group is the ‘millennials’ (people whose birth years range from the early 1980s to the early 2000s). It cites a Juniper Research report that 800 million mobile users used their devices for banking purposes in 2014. The report also predicts the number of mobile banking users will exceed 1.75 billion by 2019.

Holvi got its licence from the EU to operate as a pan-European payment provider last autumn.

Its main offering is a bank account replacement for SMEs, which it has been developing since 2011 and claims to include all the functionality of a current account, but with added extras.

The platform that underpins the offering is based on modern web development tools and hosted with Amazon Web Services (AWS) in the cloud. Tuomas Toivonen, CTO, says the offering is designed as an end-to-end business tool, which is accessible via a single web interface.

By Antony Peyton.

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