Coop taps Additiv to launch new financial services app Coop Finance+
Coop, one of Switzerland’s largest retail and wholesale companies, has tapped embedded finance fintech Additiv to launch its new financial services app Coop Finance+.
Coop launches Coop Finance+ with Additiv
Through the partnership, Coop leveraged Additiv’s cloud-based API platform to design and develop its “super-app” to provide banking services, payments, and pension solutions.
Initially, Coop Finance+ will offer banking services powered by Hypothekarbank Lenzburg, and individual pension products with Vanguard, OLZ, Liberty Vorsorge and Glarner Kantonalbank, with other digital financial products set to roll out in the coming months.
Customers will be able to open savings accounts and get a debit card, make online payments, and invest in Pillar 3a retirement plans.
Coop claims its app will offer “competitive terms, above-average retirement account interest rates”, loyalty benefits and free cash withdrawals at all Coop supermarkets and warehouses.
Thomas Schwetje, head of digital and customer at Coop, says the company aims to provide digital solutions that are tailored as per customer needs.
“With Coop Finance+, we are expanding this strategy to offer straightforward and easily accessible account and payment solutions, household budget management and pension solutions.”
