نقلاً عن Banken: Sparkassen wollen Trade Republic und Scalable Marktanteile mit „S-Neo” abjagen

News Brief: The German Sparkassen are set to launch a new digital securities offering, ‘S-Neo’, aimed at attracting customers from other banks and competing with established neobrokers like Trade Republic and Scalable.

Sparkassen president Ulrich Reuter announced on Tuesday that the new digital securities platform ‘S-Neo’ is expected to be ‘absolutely competitive’ with existing neobrokers. Scheduled to launch mid-year, S-Neo will allow trading directly through the Sparkassen app, targeting its 20 million users, of whom 10 million currently lack a securities account. Reuter indicated plans to expand the offering to customers of other banks in the future, emphasizing the security and reliability of the Sparkassen infrastructure. The initiative responds to the rapid growth of neobrokers, with companies like Revolut doubling their customer base to ten million in just 18 months, prompting traditional banks to enhance their digital offerings.

Original Source: www.handelsblatt.com