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by Fintechnews Switzerland
December 19, 2023
ABN AMRO Financial institution introduced that it has reached an settlement to amass BUX, one among Europe’neobrokers. With this acquisition, ABN AMRO goals to strengthen its footprint within the retail funding house and considerably improve its digital providing.
Main market place
Because it was based in 2013, BUX has grown to be one among Europe’s main neobrokers with 500,000 shoppers, and working throughout eight markets. BUX brings superior monetary expertise, a user-friendly and intuitive platform, and a model that strongly resonates with the brand new technology of traders. The acquisition offers ABN AMRO and BUX a mixed #1 place within the Netherlands for traders who wish to begin constructing their wealth. Buying BUX additionally contributes to ABN AMRO’s pan-European progress ambition.
Annerie Vreugdenhil
Annerie Vreugdenhil, ABN AMRO’s Chief Business Officer Private & Enterprise Banking:
“It’s much more frequent now for individuals to begin pondering nicely forward about their monetary future and to take management of it themselves. Over the previous few years, BUX has excelled in serving to shoppers who wish to do precisely this. Welcoming BUX into the ABN AMRO household will create a singular mixture of progressive user-friendliness and monetary energy, stability and experience – a robust basis for future progress (within the personal funding area), each for our shoppers and for the financial institution itself.”
Yorick Naeff
Yorick Naeff, CEO of BUX:
“We’ve all the time had the ambition to be the chief in Europe’s retail funding area, and becoming a member of forces with ABN AMRO is an important stride in direction of attaining this aim. We strongly consider that at BUX, our velocity, agility, and relentless drive for innovation, merged with ABN AMRO’s deep experience in private finance and decades-long status, kind a synergy unparalleled in your entire funding sector. This highly effective mixture positions BUX ideally to change into a number one funding platform throughout Europe for everybody seeking to develop their wealth for the longer term.”
Profitable partnership
Collectively, BUX and ABN AMRO supply a gorgeous vary of funding and financial savings merchandise, each to new traders who wish to discover the world of investments, and to extra skilled shoppers with bigger funding portfolios who’re searching for experience to assist them obtain their targets.
ABN AMRO and BUX are not any strangers to one another. ABN AMRO’s enterprise arm, previously often called ABN AMRO Ventures, was among the many first corporations to spend money on BUX. Additionally, since 2019 BUX and ABN AMRO Clearing have loved a profitable partnership that hyperlinks the financial institution’s expertise to the BUX app. In 2022,
BUX turned the primary dealer in Europe to supply fractional European ETFs in partnership with ABN AMRO Clearing Financial institution. Collectively they constructed the expertise that allows traders with smaller budgets to buy components of shares or ETFs.
The transaction is topic to approval by the regulator and is anticipated to be finalised in 2024.
Featured picture credit score: Edited from freepik
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