Efficient and quick transfer of transactions
Make your customers happy right from the start
Full account or portfolio transfer in about minutes
Available in the following countries:
Germany
Austria
Iberia
100+
Happy customers
>10min
Resources and time saved working with us in average: From 4 hours to less than 10 minutes
3,000+
connected financial Institutions
Common pain points at a glance
Competitive disadvantage:
Not having a switching service could be a competitive disadvantage, as competitors are perceived as more customer-friendly and modern due to this service.
Compliance with legal requirements:
Since 2016, banks have been legally obliged to offer their customers a free account switching service. Banks that do not provide this service risk violating legal requirements and could face legal consequences or penalties.
Efficiency and susceptibility to errors:
Without an automated switching service, customers have to make the switch manually, which is time-consuming and prone to errors. This can lead to an increase in customer enquiries and complaints, which in turn puts a strain on the internal resources.
Account and portfolio transfer in less than 10 minutes
Switching services enable a simple and paperless transfer of a portfolio or account in less than 10 minutes. The final user will have a clear understanding of the whole switch in a very short time, with a full range of options in terms of transfers.
Find out more about our solutions Account SwitchKit and Portfolio SwitchKit.
What the Qwist solutions can do for you
Increase value from end users
Activate valuable end users from the start while reducing costs. A new end user will become a valuable at once because they will use the new bank or portfolio account as the main one.
Increase conversion rate
95% of end users switch to at least one payment or close their legacy account. This leads to more cash flow and transactions in the provider’s system and increases revenue by having more end users using the new provider as the main one. Higher conversions also raise end user retention.
Reduce back office effort and costs
Actively transitioning end users to the service as an online-only process on the desktop or in your app decreases the cost and effort related to customer support and back office. Duration reduced from 4 hours to less than 10 minutes.
No regulatory obligations
We take over all regulatory obligations from PSD2 with our own PSD2 license, thus a fast setup within days is possible. The offline service is anyway requested by the bank to be totally compliant.
Gain insights via marketing analytics
Every switch provides a lot of insights on the financial markets and on market trends, that can provide meaningful insights on the state of the industry.
Why Qwist
- Switch direct debits, incoming payments and standing orders from an old bank account in less than 10 minutes; likewise switch Stocks, ETF and other financial instruments from an old depot account in the same short period of time.
- Notify payment partners about your new IBAN.
- Close your old bank account without the need to go into the bank branch or notify the old broker about your new depot.
- Close eventual pending orders or fractional shares, transferring also off set balance.
