back Back

Aion Bank acquires ETFmatic to boost investment offering

By Megha Bhattacharya

March 10, 2021

  • Aion
  • UK
Share

aionFull service digital bank Aion Bank today announced the acquisition of ETFmatic. ETFmatic is a proprietary investment platform that offers end-to-end service to investors. Its platform and management team will be integrated into Aion’s operations, effective immediately. The deal received approval from the UK’s Financial Conduct Authority (FCA).

Wojciech Sobieraj, CEO of Aion Bank, commented, “ETFmatic has been a great partner since our Belgian launch in March 2020. We were impressed with ETFmatic’s team and technology, and importantly, the company shares our mission to provide consumers with a fully transparent experience, removing the hidden fees and commissions most banks and asset managers charge. We are the bank designed to help our members save and earn more, and portfolio management is a key product as we prepare to expand across Europe.”

According to Aion Bank, the acquisition will allow it to develop additional investment products tailored for its members in each country. Additionally, ETFmatic will continue as a stand-alone brand in all markets the company is currently operating, and existing clients’ investments will continue business as usual. Aion Bank plans to grow ETFmatic’s client base and further expand its partner solution across Europe, which makes its platform available as a white-label service.

Peter Deming, Managing Director and Head of FIG in Europe, Warburg Pincus said: “In today’s very low interest rate environment, Banks must find additional ways to help customers make their savings work hard. Aion Bank has always operated with this mindset, which is why we offered ETFMatic’s low-cost investment portfolios from our launch. We expect ETFMatic to grow into a leading provider in this space as other European banks follow Aion’s lead.”

Johan Hellman, CEO of ETFmatic, added: “When we first partnered with Aion Bank, I was drawn to Aion’s vision to provide consumers with the best in banking and financial products without the unnecessary fees and cross-sell that dominate our industry. ETFs have seen significant growth during the pandemic, and I anticipate investors will continue to look to ETFs as we see market recovery in the quarters to come. I am excited to join the Aion team and introduce more European investors to the potential of ETFs.”

Previous Article

March 10, 2021

Spectra Technologies and MYPINPAD launch SoftPOS payment solution in Hong Kong

Read More
Next Article

March 10, 2021

Paymynt introduces MYNT PayCard, bankless smart card

Read More






IBSi Daily News Analysis

UK, Bank

July 12, 2024

Aion

Global securities lending revenue sees sharp 16% decline to $2.53bn in Q2 2024, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

July 09, 2024

4 Sharia-based investment platforms for ethical investing in the UK

Read More

July 01, 2024

PortfolioCloud enters UK market through integration with Seccl

Read More

June 24, 2024

Sidekick launches instant-access Savings Account for investors

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
Wealth Management & Private Banking Systems Report Q2 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2024