Tikkie and BaaS team up to service Fintechs

BUX, a free investing and trading app, is the first fintech to use this combined service offering. The combined service allows them to operate as a bank via BaaS and easy funding of clients' BUX Zero accounts in seconds via Tikkie.

3 BUX apps and 2 million users across 9 countries in Europe

BUX was launched in 2014 and has made the financial markets accessible for more than 2 million users across 9 countries in Europe. They currently offer 3 apps including BUX Zero. Bux Zero brings commision-free investing to all, allowing users to invest in the brands and companies they care about. It was launched last September. As of that date BUX Zero customers' money is held by ABN AMRO Clearing in an individual bank account using ABN AMRO Clearing's innovative Banking as a Service (BaaS) platform. This essentially allows BUX to operate as a bank.

Additionally, customers buy-and-sell-orders are routed through ABN AMRO Clearing's Smart Order Routing (SOR) solution. The highly efficient SOR solution will allow BUX to deliver commission-free trading for BUX Zero users, while at the same time guaranteeing BUX's best execution obligation. BUX Zero has been launched in the Netherlands, Germany and Austria and wil be followed by a broader rollout across Europe later this year.

Funding accounts in a matter of seconds via Tikkie

The integration of Tikkie in the BUX Zero app allows Dutch users of BUX Zero to fund their accounts in a matter of seconds. After signing up to BUX Zero Dutch clients will be given the option in the app to choose a payment method in the deposit screen. Users can select Tikkie, enter the amount they wish to deposit and the client's account with BaaS will be funded with this amount right away.

By incorporating the ABN AMRO and ABN AMRO Clearing-backed technology into the BUX's investment app, both BUX and ABN AMRO demonstrate commitment to delivering financial services as a secure, intuitive and easy-to-use experience. With these collaborations between fintechs and trusted, corporate institutions we can deliver the best of both worlds to consumers.

About Tikkie

Tikkie is a free-to-use app for iPhone and Android to conveniently send payment requests using WhatsApp or text messages. The app was introduced in 2016 and now counts over 6 million users. Although it is an ABN AMRO initiative, clients of all Dutch banks can use Tikkie free of charge. All you need is a smartphone and a Dutch bank account, to pay through iDEAL and your own familiar banking environment. Recipients don't need to have the Tikkie app installed themselves. The app meets ABN AMRO's safety and security requirements. User data is well-protected and is not shared with other companies.  For more information, go to www.tikkie.me.

More information

Curious to find out more on how the BaaS platform can make your company more future proof? 

For further questions about BaaS please contact one of our experts: Reinier van Dam.