Finooptimizer- The smart tool to multiply your money Qorus Banking Innovation Awards 2017 - Winner

Last year 34.2 billion EUR of value was destroyed in Germany by the customer keeping their money in their current accounts rather than investing it in return generating projects. Many of them spend too much on their shopping expenses and recurring payments, sticking to their old and too expensive utility or insurance providers. This is where the easy and intuitive Finooptimzer steps in! This unique product tackles this problem in an innovative and disruptive way by proactively and automatically optimizing spendings and converting them into investments. Finooptimizer is an intuitive and smart solution integrated into the everyday life of customers. Firstly, Finooptimzer identifies saving opportunities. It automatically provides discounts for online shopping. Furthermore, it scans all transactions, especially recurring payments and identifies saving potential, e.g. with ongoing contracts such as utility bills. Secondly, obtained shopping discounts and savings are seamlessly invested in securities. For first- time traders, we automatically invest the savings in an ETF so that they get used to the notion of securities. For customers who are already experienced in the field, we offer a robo advisior in which customers can decide if they want to take action or let the bank handle their finances. Hence, multiplying their money. Finooptimizer is developed in interdisciplinary teams extended with selected FinTechs. Our customers can already receive their shopping discounts and automatically invest them. They can also take advantage of our robo advisory product. They can digitize and upload their contracts into our depository. Scanning transactional data for saving potential is currently tested within small user groups. We strive to fully launch this innovative product in early 2018!