Private banks: Quirin launches largest IT project in company history and attacks neobrokers
The private bank plans to invest up to €20 million in a new IT infrastructure in order to assert itself against neobrokers. It is declaring war on the competition with its retirement savings depot.
Quirin and its digital subsidiary Quirion are preparing to compete with Neobrokers, planning to invest up to 20 million euros to utilize a similar infrastructure as Revolut or N26. The goal is to gain an advantage with the new Altersvorsorgedepot. To secure market share, Quirion will reimburse customers for all costs, including hidden ones, for the standard depot. The Altersvorsorgedepot is part of a planned pension reform and will gradually replace the existing Riester-Rente starting next year.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
