Heuking Kühn Lüer Wojtek advises savedroid on launch of an intelligent savings app

A team led by Dr. Christoph Gringel, Partner at business law firm Heuking Kühn Lüer Wojtek, advised savedroid AG, a Frankfurt-based FinTech company, on the launch of an intelligent savings app and the related cooperation with Wirecard Bank AG. The savedroid app breaks new ground in mobile banking by allowing users to automatically save money in everyday life. In the press, it is already being hailed as 'Germany's first intelligent savings app.'
Users link the savedroid app to their existing checking accounts, define individual savings rules and wishes, and are given an e-money savings account at Wirecard Bank AG, savedroid AG's partner bank. The savedroid app recognizes the savings rules and automatically moves money from the user's checking account to the savings account, for example, when shopping at amazon or Zalando or when completing a pre-defined running track or in case of excessive social media consumption. Once users have saved enough money, they can fulfill their wishes via the savedroid app.
For this purpose, Wirecard Bank implements a virtual MasterCard in the savedroid app and handles payment transactions via an e-money account. The company provides the necessary license and the technical platform. The two companies intend to use the innovative solution to highlight how digitization in banking creates added value for consumers.
FinTech company savedroid AG was founded by Dr. Yassin Hankir, Marco Trautmann, and Tobias Zander in Frankfurt in September 2015 and has been a part of Deutsche Börse AG's FinTech hub since May 2016. savedroid AG intends to help young people to automatically save money for purchases while going on about their daily activities.
Wirecard Group is a software and IT specialist for outsourcing and white label solutions for electronic payments and the issuing of card and account products. The company, headquartered in Aschheim near Munich, was founded in 1999 and has a worldwide staff of over 3,500.

Counsel to savedroid AG
Heuking Kühn Lüer Wojtek:

Dr. Christoph Gringel (Lead), Frankfurt
Dr. Guido Hoffmann, LL.M. (both Banking&Finance),
Dr. Philip Kempermann LL.M. (IP/IT), both Düsseldorf
Johanna Stremnitzer, LL.M. (Banking&Finance), Frankfurt
Michael Kuska, LL.M., LL.M. (IP/IT), Düsseldorf   

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