The mobile money management app Bankin’ helps 11 million users manage personal finances and make better budgeting decisions. On average, Bankin’ users save up to €150 from the first month. 

App users can centralize all their accounts into the Bankin’ platform to gain a streamlined view of their cash flow and expenses, visualized with easy-to-understand graphs. Along with money management, Bankin’ also provides customers with services for receiving cashback and renegotiating invoices. 

The need: Expanding Bankin’s account connector coverage

Standing out as a mobile app in the personal finance management (PFM) space requires ingenuity.

Bankin’ aims to differentiate itself by creating a “super app” that can offer a broad range of services to people across all age demographics, asset types, and socio-professional categories. 

“The objective is to ensure that our users can save, whereas other applications will be more focused on wealth management or cashback only.” — Jérémy Corbet, Head of Operations at Bankin’

Open Banking has been at the heart of Bankin’s operations since the app’s origin. The co-founders developed their own solution for connecting to banks, making this technology the foundational essence of the application. With the help of Open Banking, users can connect their bank accounts to the Bankin’ app and view their entire budget on a single platform. 

The challenge for Bankin’ came in extending coverage beyond PSD2 connectors alone, with the specific objective of offering connectors for savings accounts and cryptocurrencies. 

The solution: An independent provider with broad institutional coverage

Bankin’ compared different providers according to the degree of coverage, the number of connectors offered, and the quality of those connections. In addition to these factors, the Bankin’ team also paid close attention to customer service and prioritized partners who could take care of the app’s unique needs regarding integrating new connectors and troubleshooting problems as they arose.

With these criteria at the core of their decision-making process, Bankin’ landed on Powens. 

The coverage offered by Powens’ wealth management solutions allowed access to institutions that offer ETFs and cryptocurrencies, a major advantage sought after by the Bankin’ team. Powens’ independence from banks was also an important benefit due to the nature of Bankin’s all-in-one PFM aggregation capabilities.  

“We also valued the fact that in its client portfolio, Powens also had companies similar to our own, particularly innovative fintechs dealing with the same challenges.” — Jérémy Corbet, Head of Operations at Bankin’

The results: New connections generate direct buy-in from users

Integrating with Powens was smooth and efficient. 

The entire implementation project lasted two months. Thanks to Powens’ expert advice, Bankin’ completed the integration stage easily and without any complications, even within a complex existing fintech architecture setup. An essential enabler of this quick success was Powens’ attentive support team that listened to Bankin’s needs and offered direct support through all key stages of the project. 

With the adoption of the Wealth product, Bankin’ has witnessed exceptional success in generating buy-in directly from users. Bankin’ made the decision not to do a big communication at launch and, instead, test the service over time. Even without this communication, Bankin’ observed several thousand successful connections to savings accounts within a few months of implementation. 

Would Bankin’ recommend Powens?

“Absolutely. Powens is a trusted Open Banking partner, and we are delighted to work with them. Given their expertise in Open Banking as well as their ability to listen and support, I would say that it is really a solution of choice in the market.” — Jérémy Corbet, Head of Operations at Bankin’

The partnership between Bankin’ and Powens is far from over. Due to their shared ambitions for the Open Banking market, the two companies plan to continue working hand-in-hand to deliver more innovation and value to Bankin’ users. 

Powens accelerates smarter connections across finance

Ready to connect your users to more financial institutions — including crypto and savings? Let our experts show you how Powens’ wealth management solutions deliver superior coverage and fast implementation.

Contact our experts now to schedule a demo of our Open Finance solutions.