Expats are flocking to the new deVere Group money app Vault with more than 40,000 expected to download the app by the end of the year.
Vault is a worldwide app designed for expats and international workers who have problems accessing their cash.
The app allows users to open an account online in a few minutes.
Once connected, they can withdraw cash from any ATM worldwide, keep track of their accounts in real time and spend in any outlet accepting MasterCard.
An added bonus is the app lets Vault account holders instantly send and receive money online to each other in most major currencies.
More services promised
“The sale of my last remaining shares in STM has freed-up resources to allow us to concentrate more fully on developing and expanding our growing fintech business,” said Green.
“There has been enormous, international interest in our challenger bank, deVere Vault since its launch in April. We fully expect this momentum of interest in the global e-money app to continue and build.
“As such, we have taken the strategic decision to aggressively develop our burgeoning fintech proposition throughout 2017 and beyond as a major priority.
“We’re looking to go big in the global fintech sector with new services and additional products and, therefore, we are committing considerable extra resources to this part of our organisation.”
deVere to revolutionise banking sector with deVere Vault e-money app https://t.co/VT0Rlet2st
— Nigel Green (@nigeljgreen) April 11, 2017
Vault was launched by deVere Group in April and although the company had identified the market niche, no one expected such a lift-off.
“We knew it would be popular. But the phenomenal interest already shown in this pioneering global e-money app has surprised even us,” said Green.
“We’re hugely excited to be developing the fintech part of our business – it presents a vast amount of potential for growth – whilst simultaneously actively, ambitiously and strategically expanding deVere’s primary financial advisory business.”