Nice article on the disruption in savings. There are two groups of attackers. The Yield providers with peripheral banks from countries with low sovereign risks or poor ratings that fall under the Deposit Guarantee System (e.g. Savedo, Raisin) for affluent clients versus the providers that focus on Deposit offers from high rated banks focused on the full range from Affluent, HNWI and Family Offices with the main player being Safened in this space. Anyway it is a huge market so room for all to win...as long as the DGS is in place.
Guenther K is one of millions of German pensioners hunting for yield — a prey proving pretty elusive these days. He long gave up on finding it at home. So he looked to the other side of Europe, investing his savings in Atlântico Europa, a Portuguese bank, which offers a rate of 1.65 per cent for a year. Rather than fly out to Lisbon and sign all the forms in person, he opened an account through Savedo, a Berlin-based start-up that matches savers to banking products across Europe. About 51 per cent of Germans invest their money in savings products and 14.6m savers have fixed-term deposits. But with interest rates so low, they are increasingly restless. Even conservative pensioners such as Guenther are looking for alternatives. “That’s a huge opportunity for us,”