The company Subscription alarm will consist of three divisions: the subscription cancellation service 'Aboalarm', the B2B division 'Finlytics', which analyses financial data for insurers and banks, and – from 1 September – the multi-banking app 'Outbank'. All divisions continue to operate under their respective familiar brand identities.
The services now share the same infrastructure, and the teams behind them collaborate regularly. Users can continue to access the services as usual. The merger is intended to enable faster development of new features that support the vision of the most intuitive financial and contract management possible.
At the same time, the integration into a central application development facility at the Munich location will enable the Verivox Group to exploit synergy and growth potential in the future fields of legal, insurtech and fintech even more efficiently. The comparison portal Verivox took over Aboalarm at the end of 2017.
Pioneers of the Fintech industry
Thilo Knaupp, Managing Director of Aboalarm, says about the upcoming integration:
"Finances are an important part of everyone's everyday life and have always been the focus of Outbank and Aboalarm. Both companies share a common DNA because they share a passion for consumer services. Outbank and Aboalarm were founded over ten years ago and are among the absolute pioneers of the fintech industry due to their early development of banking and financial applications. Our extensive expertise is a decisive competitive advantage that we are now fully leveraging. For this reason, we are now bringing these two exceptional teams together and are excited to be able to respond even faster to the needs of our business and end customers and offer products that help people manage their finances and contracts even more easily."
