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Aion, a new subscription-only digital bank launches in Belgium

  • Aion introduces its signature product MoneyMax™, which is designed to help members maximise their money by earning more on their savings, saving more on their household bills and spending less on their online purchases.

  • Beyond day-to-day banking, Aion is also offering services such as ETF Management and a Personal Concierge to all regular members.

  • Customers can create an Aion account via the website and app as of 2 March 2020.

  • Aion will support its online operation with a flagship branch in central Brussels, opening March 2020.

Aion launches an online banking product in Belgium. The subscription-only bank has features to help members maximise their money through an AI-powered service called MoneyMax™. MoneyMax™ is a fast, convenient way for consumers to earn more on their savings, save more on their household bills and spend less on their online purchases. In addition to daily banking services, Aion is also offering an Exchange-Traded Fund (ETF) Asset Management product and Personal Concierge service to all its regular members. Aion will open the doors to a flagship branch, located on Avenue de la Toison d’Or in the heart of Brussels, later this month.

 

An entirely transparent model that will change the way you bank

Aion believes that personal wellbeing starts with your financial wellbeing. It is impossible to focus on your own mind, body and soul when you are worried about your financial safety and security. Recognising that financial stress is the #1 contributor to household stress, Aion is on a mission to remove the barriers between you and your money. This includes eliminating add-on fees and charges that are often added to move your own money. ATM fees, currency exchange fees, fees to invest, fees to withdraw… it all adds up. With Aion’s subscription model, all the added charges go away so that members can maximise their money. 

“Moving money, withdrawing money, investing money, exchanging money, borrowing money, and even saving money shouldn’t cost you money,” explains Wojciech Sobieraj, CEO of Aion. “Aion is on a mission to change the way banking is done. Instead of trying to upsell and maximise profits per customer, Aion charges a flat subscription fee so that we do all the hard work for you, our members.”

 

 

Maximising your money

A bank that can help you find the best price on a new pair of shoes? Cut your broadband bills? Find deals on your family holiday? Search other banks for a better interest rate? That is precisely what Aion’s MoneyMax™ is designed to do: maximise your money.

Vic Walia

“Members can earn more, spend less, and save more when they use MoneyMax™,” explains Vic Walia, CMO of Aion. “Enabled by AI, MoneyMax™ searches for lower loan interest rates, finds ways to cut household utility bills, and compares online shopping with lower price alternatives.”

MoneyMax™, Aion’s signature product, helps Belgians proactively take care of their day-to-day spending so that they can focus on other important things that matter.

 

Premium services at other banks are free with Aion membership

What are generally considered to be premium services at most other banks, Aion includes in its regular membership such as ETF Asset Management services and a Personal Concierge service. With a regular Aion membership, investing in ETFs, optimising ETF portfolios and earning ETF investment income all come at no extra fees or hidden charges.  Starting at an investment of just €100, members can open an ETF account and start making their money work harder for them.

Searching for concert or show tickets? How about a restaurant reservation in-town or on the road? With just a few clicks, every Aion regular member has access to a chat-based personal concierge for no extra fees or hidden charges.

 

Daily Banking, included

All regular members can expect daily banking features and services from Aion, including:

  • Multi Currency Debit Card Account
  • Instant Global Currency transfers
  • Unlimited Worldwide ATM Cash withdrawals
  • Foreign Currency Exchange
  • ETF Asset Management
  • Max Deposit
  • Max Bills
  • Max Loans
  • Max Shopping (coming soon)
  • Max Travel (coming soon)
  • 24/7 Concierge Services
  • 24/7 Customer Support

Access to all above services is covered by a Regular Membership fee of €19 per month. Light Membership, which includes a multi-currency debit card and online currency exchange, is €1.90 per month. A free 3 month trial is available for new members.

Secure financial backing

Aion is backed by Warburg Pincus, a global investment firm with a long history of backing world-class management teams which build sustainable businesses.

“Aion will revolutionise the financial services market in Belgium,” says Daniel Zilberman, Managing Director and Head of Europe at Warburg Pincus. “Aion’s cloud-based proposition has been designed to deliver unparallelled services, value and trust to both individual and business customers, via an easy to use app.”

“We have committed significant financial resources to Aion, well in excess of what has been raised previously by any challenger bank at launch.  Ultimately, the success of any financial services technology company is measured by the quality of its product, technology and management — and in this regard, we believe we are backing the very best”. 

 

Activate your account

As of 2 March, customers can download the mobile app on iOS or Android app stores or visit the website aion.be to apply for an account.

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