deVere Group’s new money app Vault is designed to give expats financial freedom while they are on the move.
Instead of locking their finances into the traditional banking system, the Vault gives real-time and instant access with a low-cost and efficient e-money service.
The app is the first venture into fintech for deVere Group, one of the world’s leading independent financial advice firms for expats.
The Vault has a ready-made network of almost 90,000 customers in more than 100 countries around the globe who already entrust deVere Group to administer more than $10 billion of cash and assets.
To step up services for expats, deVere Group has recently opened a private bank on the Caribbean island of St Lucia and an investment banking licence in Mauritius.
Instant access
DeVere’s CEO Nigel Green explained customers can open a Vault account in around five minutes, access cash from any ATM and transfer cash to other Vault customers instantly.
Vault account holders can also spend money wherever Mastercard is accepted.
“The launch of our challenger bank, deVere Vault, is the latest move to provide expat clients a comprehensive, global service. Personal advice with digital solutions is what people need in today’s world,” said Green.
“deVere Vault, a low-cost, app-only e-money service, has been driven by demand from internationally-mobile individuals, globally-focused firms and expats. They want to access, manage and use their money instantly and seamlessly wherever they are in the world.
“It is a trend that is only set to gain momentum moving forward. I believe the days of traditional banking are numbered. This is due to the speed with which banking information can be accessed and transactions made via app-only services. Such money apps are growing in popularity due to this high level of convenience, increased security, and as people become more tech-savvy.”
deVere to revolutionise banking sector with deVere Vault e-money app https://t.co/VT0Rlet2st
— Nigel Green (@nigeljgreen) April 11, 2017
Electronic solution
The Vault is an app aimed at expats, specifically in the 18-45 year-old demographic who want to do everything on their mobile or tablet.
“deVere Vault will provide global services in electronic money and a single card, multi-currency service. Focusing on those with an international lifestyle, we will also ensure that the best currency exchange ratios are given,” said Green.
“And this is just the beginning. We’re confident that deVere Vault is set to revolutionise how people access, manage and use money across the world and positively disturb the wider banking sector. Banking as we have known it until now is finished.
“This is a low-cost, e-money app designed for today’s globalised world.”
