2022 will be considered by many as a year to forget. Financial stability has become increasingly difficult to maintain, with inflation and interest rates having a severe impact on consumers’ ability to save all across Europe. As a result, investment has become a more attractive option for those looking to ride the current storms and increase their chances of returns in the long-term.

Mention ‘wealth management’ to anyone you know, and the responses you get will vary. Some may tell you it’s their means of preparing for the future, others may even say it’s something of a hobby for them. For the majority, however, it is perceived as a largely unknown, inaccessible world reserved for the financially literate and those with vast amounts of disposable income.

One thing is certain, investment isn’t one-size-fits all. In Spain, for example, the average adult has less than €2000 in savings, a 20% decrease in average savings in the previous year. Now more than ever, it’s vital to ensure the best possible returns on investments of any size and, while accessibility to investment tools and platforms has never been easier, without the right financial education and advice this ease of access can quickly result in risky and inappropriate financial decisions being made by the individual.

What problems does inbestMe solve?

InbestMe was created to use the most efficient technology to bring investors and savers the best professional and independent investment strategies, while deepening their financial knowledge. Pioneers in the national robo-advisor market, inbestMe offer sustainable indexed management, giving customers the opportunity to manage their wealth in a socially responsible way. Financial education is at the heart of inbestMe’s mission, making sure they don’t use technology to simply present options to their clients. Instead, inbestMe provides their clients with the information and context necessary to help them understand their options, ultimately helping them make sound financial decisions.

“In an era in which we expect everything to be automatic and fluid, the customer experience is key. The world of wealth management is no exception to this demand, and open banking is the key to unlocking the next phase of portfolio management so we can continue to offer our clients the most personalised solution in the market.” - Jordi Mercader, Founder & CEO

Where does Yapily come in?

After building an impressive range of diversified and efficient investment options, with more than 100 combinations based on ETFs, Index Funds, and Pension Plans, adding personalisation and planning tools was the next step for inbestMe. Jordi recognised that embracing open banking had a key role to play in the next phase of democratising investment and helping customers achieve their financial goals.

Underpinned by Yapily Payments, inbestMe’s ‘Easy Transfer’ option allows clients to instantly top up their investment accounts, making them the first robo-advisor in Spain to implement open banking for this purpose. Yapily’s secure API means there is no need to remember card details or account information, and transfers are made simple using inbestMe’s mobile app and the user’s biometric information to authorise the movement of funds from their bank account. Removing the fees associated with credit/debit card top ups, inbestMe are able to keep their own costs to a minimum while providing a transparent fee structure for their customers. Win-win.

Of course, offering a personalised wealth management experience requires safe handling of personal information. Yapily Data allows quick and secure verification of account information and personal identity. The result? The risk of fraud is minimised and time is saved by removing the need for manual entry. This builds users’ confidence in inbestMe as their investment partner.

“We’ve seen a growing demand for transparency and independence from users, especially in the face of the low returns associated with traditional banking products. We needed an open banking platform with the right integrations and the security, stability, and user experience our customers deserve. This is why we chose Yapily.” - Jordi Mercader, Founder & CEO

The impact

Already on a rapid growth track, inbestMe accelerated its growth during 2021, tripling its volume of assets under management to €95m. Adding open banking capabilities to their platform, and making good financial choices more accessible than ever, this growth is expected to continue. Since launch in summer 2022, their ‘Easy Transfer’ feature has seen rapid adoption with 40-50% of transactions completed using payment initiation services each month.

Looking ahead, inbestMe launched the Saving Accounts in December 2022, an investment portfolio made up of monetary funds that replicate the interbank interest rate. This gives improved movement and liquidity for clients, with the ease of payments offered by Yapily’s open banking platform providing the perfect fit.

“Thanks to Yapily, streamlining the transfer of funds to your investment account is, without a doubt, a differential value of inbestMe and vital to our competitive advantage. Open banking provides our investors with new possibilities for wealth management, and is helping the industry make huge leaps towards the democratisation of investment.” - Jordi Mercader, Founder & CEO

Since partnering with Yapily, inbestMe have:

• Up to 50% of customers using the easy transfer option each month
• Conversion rates are up to 70%, an improvement from the previous 45%
• Reduced risk of fraud and misplaced funds
• Almost instant movement of funds, reduced from days to minutes